UPS reported a second-quarter profit that exceeded expectations but missed revenue due to talks with the Teamsters. The company also lowered its full-year revenue guidance and operating margin outlook.
United Parcel Service Inc. reported Tuesday a second-quarter profit that beat expectations but revenue that missed. The package delivery giant cut its full-year revenue guidance and its outlook for operating margin.
UPS’s... ““Moving through our second-quarter results, we expected negotiations with the Teamsters to be late and loud, and they were. As the noise level increased throughout the second quarter, we experienced more volume diversion than we anticipated.”” But as CEO Tomé said on the post-earnings conference call with analysts, according to an AlphaSense transcript, that despite volume declines, cost controls led to consolidated operating margin of 13.2%, which exceeded expectations.
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