FedEx lost a key USPS contract to UPS. Should investors be worried? [Seeking Alpha]
United Parcel Service, Inc. (UPS)
Last united parcel service, inc. earnings: 4/28 07:00 am
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Source: Seeking Alpha
losing the primary USPS air cargo provider contract to rival United Parcel Service ( UPS While the development was anticipated to a large degree, Morgan Stanley warned the ramifications are still consequential. Analyst Ravi Shanker noted that USPS is a significant customer for FDX, and the loss of the contract will be a big volume loss. "Post AMZN, we believe the USPS has been FDX's largest customer in recent years, at one point accounting for ~2% of revenues," highlighted Shanker. While USPS has already begun drawing down volumes, Shanker and the MS analyst team believe significant volumes remain to be drawn down, potentially representing 1% to 1.5% of total revenue. The USPS contract loss could also impact FedEx's ( FDX ) margins. Shanker said that while the incremental contribution per unit was likely low, the firm calculated that the fixed cost absorption of the volumes was significant, which means the development could drag operating leverage for FDX in the Express segment. F
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News
- Is UPS Stock Going to $169? 1 Wall Street Analyst Thinks So [Yahoo! Finance]Yahoo! Finance
- UPS Stock: Buy, Sell, or Hold? [Yahoo! Finance]Yahoo! Finance
- Increases to United Parcel Service, Inc.'s (NYSE:UPS) CEO Compensation Might Cool off for now [Yahoo! Finance]Yahoo! Finance
- United Parcel Service: Logistics Leader Still In The Bargain Bin [Seeking Alpha]Seeking Alpha
- United Parcel Service, Inc. (NYSE: UPS) was upgraded by analysts at HSBC Holdings plc from a "hold" rating to a "buy" rating. They now have a $170.00 price target on the stock.MarketBeat
UPS
Earnings
- 4/23/24 - Beat
UPS
Sec Filings
- 4/23/24 - Form 8-K
- 4/11/24 - Form PX14A6G
- 3/27/24 - Form 4
- UPS's page on the SEC website