UPS shares fell over 15% Thursday after issuing weak revenue guidance and announcing plans to cut Amazon deliveries by more than 50% by late 2026. The shipping giant reported fourth-quarter revenue that missed analysts’ estimates. CEO Carol Tome stated that Amazon, while UPS’ largest customer, is not its most profitable. Amazon, which has expanded its logistics operations, said UPS requested the reduction in volume due to operational needs. UPS is restructuring its U.S. network and implementing cost-cutting initiatives to save $1 billion.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02UPS shares fell over 15 percent Thursday after issuing weak revenue guidance and announcing
00:07plans to cut Amazon deliveries by more than 50 percent by late 2026. The shipping giant
00:12reported fourth quarter revenue that missed analyst estimates. CEO Carol Tome stated that
00:18Amazon, while UPS's largest customer, is not its most profitable. Amazon, which has expanded its
00:25own logistics operations, said UPS requested the reduction in volume due to potential needs.
00:30UPS is reconstructing its U.S. network and implementing cost-cutting initiatives
00:35to save $1 billion. For all things money visit benzinga.com slash gstv