FedEx needs to deliver on cost-cut plan as investor patience wanes -analysts say [Reuters]
United Parcel Service, Inc. (UPS)
Last united parcel service, inc. earnings: 4/28 07:00 am
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Source: Reuters
analysts said on Friday, after the global delivery company laid out plans to slash up to $2.7 billion in expenses for fiscal 2023. FedEx's plan announced on Thursday escalates pressure on CEO Raj Subramaniam to address internal missteps and adjust to a darkening global economy that hammered the company's fiscal first-quarter profits. Some analysts said they are no longer giving the CEO - who succeeded FedEx founder Fred Smith in June - the benefit of the doubt. "This is 1) now a "show me" story, and 2) management must be careful not to cut so deep as to affect already sub-optimal post-pandemic service levels," Stifel analysts wrote in a client note. The delivery industry is grappling with the prospect of profit-sapping excess capacity as the pandemic shipping bubble deflates. But FedEx has its own woes. Its structure, with separately operated Express, Ground and Freight units, creates cost redundancies that are difficult to wring out. FedEx is also more exposed than compet
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UPS
News
- UPS Surpasses Q1 Earnings Estimates, Reaffirms 2024 Guidance [Yahoo! Finance]Yahoo! Finance
- United Parcel Service (UPS) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Why UPS Stock Is Up Today [Yahoo! Finance]Yahoo! Finance
- Pre-Markets Up, Q1 Earnings Beats for GM, UPS, Pepsi [Yahoo! Finance]Yahoo! Finance
- UPDATE 1-UPS sees profit in U.S. Postal Service work that dragged down FedEx earnings [Yahoo! Finance]Yahoo! Finance
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