Trending: UPS Forecasts Lower Shipping Volumes
25 Avril 2023 - 8:32PM
Dow Jones News
14:02 ET -- United Parcel Service Inc. is one of the most
mentioned companies in the U.S. across all news items in the last
12 hours, according to Factiva data. UPS shares tumbled after it
said decelerating U.S. retail sales and shifting consumer trends
would depress the company's shipping volumes this year. The carrier
is forecasting its first decline in annual revenue since 2009 after
earnings and revenue both fell in the first quarter from a year
ago, declines UPS said were driven by sagging consumer spending.
The company said in its first-quarter earnings report it now
expects full-year revenue to come in at around $97 billion, at the
low end of earlier guidance and about 3% behind revenue during
2022. Dow Jones & Co. owns Factiva.
(matt.walker@dowjones.com)
(END) Dow Jones Newswires
April 25, 2023 14:17 ET (18:17 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
United Parcel Service (NYSE:UPS)
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