FedEx executives grilled on cost-cut plan after first-quarter profits slide [Globe and Mail, The (Toronto, Canada)]
United Parcel Service, Inc. (UPS)
Last united parcel service, inc. earnings: 4/28 07:00 am
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Source: Globe and Mail, The
increase outlined cost cuts of up to $2.7-billion after falling demand hammered first-quarter profits, but analysts grilled company executives with questions in an earnings call about whether steps such as parking planes and shuttering some offices were too little too late. Its shares rose 0.8 per cent to $154.54 but stayed near the 52-week low of $150.36 hit early in the session. The company reported that earnings per share fell 21.3 per cent for the quarter ended Aug. 31, in line with the warning it delivered last week. It blamed a rapidly deteriorating global economy and the CFO later said he expects the weak trends to persist across most regions for the rest of the current fiscal year. Analysts and investors were skeptical – in large part because revenue increased 5.5 per cent. On the conference call, analysts asked FedEx executives pointed questions such as whether they had the right team in place to set the company on the right path. One asked why FedEx was underperformin
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UPS
Earnings
- 1/30/24 - Beat
UPS
Sec Filings
- 4/11/24 - Form PX14A6G
- 3/27/24 - Form 4
- 3/22/24 - Form 4
- UPS's page on the SEC website