United Parcel Service's (UPS) newly launched electric delivery truck is seen in Compton, California, U.S., September 13, 2023.
United Parcel Service reported first-quarter profit above estimates on Tuesday as cost cuts partly offset subdued demand for small-package delivery, sending its shares up 3.5% premarket.
UPS reported a 3.2% decline in average daily volumes in its domestic segment and a 5.8% drop in its international segment, but said volumes "showed improvement through the quarter".
UPS recently secured the contract to provide Priority Mail and other speedy services for the U.S.
Its revenue of $21.71 billion was below estimates of $21.86 billion.
Organizations:
United Parcel Service, UPS, Teamsters, U.S . Postal Service, FedEx
Locations:
Compton , California, U.S, Atlanta