UPDATE 2-UPS slashes investment, buybacks as coronavirus weighs [Reuters]
United Parcel Service, Inc. (UPS)
Last united parcel service, inc. earnings: 4/28 07:00 am
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Source: Reuters
UPS slashes investment, buybacks as coronavirus weighs (Reuters) - United Parcel Service Inc ( UPS.N ) will slash $1 billion from this year’s capital spending budget and reduce planned share buybacks by almost $800 million as it adjusts to “unprecedented” changes wrought by the novel coronavirus outbreak. Shares fell around 4% before the start of trading on Tuesday as the world’s biggest package delivery company, like dozens of other major firms, withdrew its financial 2020 forecasts after missing Wall Street estimates for profit in the first three months of the year. Average daily volume rose 8.5% in the United States, while UPS Next Day Air volume grew 20.5% as COVID-19 created massive need for emergency shipments of protective hospital gear and medical equipment. Stay-at-home orders resulted in UPS making significantly more home deliveries of everything from food to home office equipment. Those deliveries are less lucrative than business deliveries. UPS shipments have gone from a
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UPS
News
- UPS (UPS) Valuation Check After Earnings Beat From Cost Cuts and Network Overhaul [Yahoo! Finance]Yahoo! Finance
- Factbox-Amazon's growing clout in US shipping market [Yahoo! Finance]Yahoo! Finance
- Amazon may be looking at ending its longtime partnership with USPS [Seeking Alpha]Seeking Alpha
- Get gifts on time. See holiday shipping deadlines USPS, FedEx, UPS. [USA TODAY]USA TODAY
- N.J. congressman unveils Porch Pirates Act to combat holiday shopping thefts [CBS News]CBS News
UPS
Earnings
- 10/28/25 - Beat
UPS
Sec Filings
- 11/17/25 - Form 25-NSE
- 11/7/25 - Form 4
- 11/5/25 - Form 10-Q
- UPS's page on the SEC website