UPS (United Parcel Service) Stock News

United Parcel Service (UPS) delivered better-than-expected first-quarter earnings on Tuesday, but the positive results were accompanied by a stark announcement: the company plans to cut up to 20,000 jobs and close dozens of facilities in response to a slowdown in Amazon deliveries and broader economic uncertainty.

The package giant is shrinking its workforce and closing facilities after a shift away from its biggest customer.

UPS will cut 20,000 jobs in 2025 as it overhauls its US network to cut costs and boost efficiency. The shipping giant plans to shutter 73 facilities and save $3.5 billion as demand remains soft.

United Parcel Service declined to update its outlook for the year due to uncertainty in the current macroeconomic environment even as results in its latest quarter came in above expectations.

Shares of United Parcel Service (UPS) surged in premarket Tuesday after the shipping giant's first-quarter results topped analysts' estimates.

The shipping company posted an earnings beat, but said it would not update its full-year outlook due to tariff uncertainty.

Shares of United Parcel Service Inc. UPS climbed 3.7% in premarket trading Tuesday, after the package delivery giant reported first-quarter results that topped Wall Street forecasts, amid growth in both its U.S. and international delivery businesses.

ATLANTA--(BUSINESS WIRE)---- $UPS--UPS (NYSE:UPS) today announced first-quarter 2025 consolidated revenues of $21.5 billion, a 0.7% decrease from the first quarter of 2024. Consolidated operating profit was $1.7 billion, up 3.3% compared to the first quarter of 2024, and up 0.9% on a non-GAAP adjusted basis. Diluted earnings per share were $1.40 for the quarter; non-GAAP adjusted diluted earnin...