United Parcel Stock Price, News & Analysis

UPS reported a 15.9% increase in consolidated revenue, reaching $21.2 billion for Q3 2020. Diluted EPS rose to $2.24, marking an 11.4% growth. Operating profit reached $2.4 billion, an 11.0% increase year-over-year. The company's cash from operations totaled $9.3 billion, with adjusted free cash flow at $5.9 billion. UPS did not provide guidance for future earnings due to uncertainty from the pandemic but noted strong demand from Asia and small to medium businesses.

UPS announced its plan to hire over 100,000 seasonal employees, with a significant recruitment event on October 30, 2020, dubbed 'UPS Brown Friday.' The company is hosting nearly 250 virtual and in-person job fairs across the U.S., aiming to onboard at least 50,000 candidates. Seasonal positions, primarily for package handlers and drivers, often lead to permanent roles, with about 35% of recent hires transitioning to full-time employment. UPS also offers a tuition assistance program, investing nearly $670 million to support employees pursuing education.

Ware2Go, a UPS company, announced the launch of FulfillmentVu, a new technology platform designed to enhance on-demand fulfillment. This platform integrates warehouse management, order management, and transportation management systems, allowing merchants to meet customer demands effectively. With over 70 connectors for eCommerce integration and a commitment to 99% accurate fulfillment, FulfillmentVu aims to support businesses of all sizes in optimizing their operations. The CEO highlighted a year-on-year revenue growth exceeding 7x, solidifying the platform’s competitive advantage in the market.

UPS will release its 2020 third-quarter results on October 28, 2020, at 6:00 a.m. EST. Following this, CEO Carol Tomé and CFO Brian Newman will host an investor conference call at 8:30 a.m. EST to discuss the results, which will be accessible to the public via a live webcast. The audio from the webcast will be available on the Investor Relations site for a limited time after the call.

UPS announced the appointment of Nikki Clifton as President of Social Impact and The UPS Foundation, effective November 1, following the retirement of Eduardo Martinez. Clifton, who has extensive experience in corporate and non-profit sectors, will lead UPS's global philanthropy and social impact initiatives. Martinez retires after a distinguished 44-year career, having served as Chief Diversity and Inclusion Officer. UPS aims to enhance its community engagement and address social justice issues under Clifton's leadership, reflecting its commitment to corporate social responsibility.

The UPS Store has unveiled a major redesign of its retail locations, marking the first significant change in layout in two decades. This initiative aims to enhance customer experience for small business owners and consumers by creating a more open, tech-friendly environment. The redesign includes 24/7 access smart lockers and a modern aesthetic with brighter colors and improved layout. Franchisees can benefit from a new veteran and minority incentive program that provides financial support for new franchisees. This endeavor reflects The UPS Store's commitment to adapting to changing consumer needs and improving franchise profitability.

On September 11, 2020, UPS employees participated in the fifth annual 9/11 Promise Run and Ride, honoring nearly 3,000 lives lost on 9/11. This year’s event was largely virtual due to pandemic restrictions. Over 200 UPSers from across the U.S. and seven countries completed the challenge by running or biking 9.11 miles. Many began at 9:11 a.m., documenting their efforts and contributing to fundraising efforts benefiting families of first responders and military members affected by the tragedy. UPS continues its commitment to support communities in need.

UPS hosted the fifth annual 9/11 Promise Run and Ride to honor the lives lost on 9/11. This year, over 200 UPS employees participated virtually, running or biking 9.11 miles, reflecting the tragic date. The event, which usually spans three days, took place primarily online due to circumstances. Employees logged their times and shared their experiences, many contributing to fundraising efforts for families of first responders and military personnel affected by 9/11. UPS served as the major corporate sponsor of this meaningful initiative.