News / Optimistic UPS chief sees end of decline after 'disappointing' Q1

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UPS fell behind expectations in the first quarter of 2023. Management sees signs of the decline coming to an end, but challenges remain: first, it needs a deal with the Teamsters.

The integrator’s results for the first quarter disappointed, falling behind management’s projections from January. Revenue was down 6% from a year ago, to $22.9bn, and consolidated operating profit slumped 21.8% to $2.5bn (see more in-depth analysis at Loadstar Premium today)

UPS CEO Carol Tomé pointed to “a challenging macroeconomic environment”, both ...