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Reuters
UPS sees profit in US Postal Service work that dragged down FedEx earnings
LOS ANGELES (Reuters) -United Parcel Service expects its newly won U.S. Postal Service (USPS) air cargo contract to be profitable in its first year and throughout the more than five-year deal, after rival FedEx struggled with the business, Chief Executive Carol Tome said on Tuesday. Atlanta-based UPS will become the No. 1 USPS air cargo service provider on Sept. 30. It replaces FedEx, which was paid $1.75 billion in fiscal 2023 to provide Priority Mail and other speedy services for the quasi-governmental agency.
Reuters
UPDATE 2-UPS sees profit in US Postal Service work that dragged down FedEx earnings
United Parcel Service expects its newly won U.S. Postal Service (USPS) air cargo contract to be profitable in its first year and throughout the more than five-year deal, after rival FedEx struggled with the business, Chief Executive Carol Tome said on Tuesday. Atlanta-based UPS will become the No. 1 USPS air cargo service provider on Sept. 30.
Investor's Business Daily
UPS Sees Fifth Consecutive Quarterly Earnings Decline As Delivery Giant Keeps 2024 View Steady
UPS reported better-than-expected first-quarter earnings but with revenue coming in below Wall Street predictions Tuesday. The package delivery giant also reaffirmed full-year guidance. Shares of UPS angled higher early.