UPS’ domestic parcel volumes returned to growth in the second quarter for the first time since late 2021, but the company’s stock was down 13% late Tuesday as revenue and operating profit fell below analysts’ predictions and the parcel logistics company tightened full-year guidance.
UPS now projects 2024 revenue of $93 billion versus a previous forecast of up to $94.5 billion and capital expenditures of $4 billion, $500 million less than before.
It’s been a busy few weeks for UPS (NYSE: UPS). The...