{"id":70374,"date":"2023-04-27T00:00:00","date_gmt":"2023-04-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/04\/27\/ups-reports-lower-1q-2023-revenue-as-freight-volumes-remain-strained\/"},"modified":"2023-04-27T00:00:00","modified_gmt":"2023-04-27T00:00:00","slug":"ups-reports-lower-1q-2023-revenue-as-freight-volumes-remain-strained","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/04\/27\/ups-reports-lower-1q-2023-revenue-as-freight-volumes-remain-strained\/","title":{"rendered":"UPS reports lower 1Q 2023 revenue as freight volumes remain strained"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.ups.com\/gb\/en\/Home.page?WT.srch=1&WT.mc_id=ds_gclid:CjwKCAjwl6OiBhA2EiwAuUwWZWU_8UcWnTtlbfIRCixf5jmIGc-yRCe5_823FDEHwQ5PuTuBD-aaAhoC4JMQAvD_BwE:dscid:71700000050016000:searchterm:ups&ds_rl=1300318&ds_rl=1300318&gclid=CjwKCAjwl6OiBhA2EiwAuUwWZWU_8UcWnTtlbfIRCixf5jmIGc-yRCe5_823FDEHwQ5PuTuBD-aaAhoC4JMQAvD_BwE&gclsrc=aw.ds\" style=\"\">UPS<\/a><\/span><span style=\"font-weight:700\">\u2019 revenues fell 6% y-o-y in 1Q 2023 to USD 22.9 bn<\/span><span style=\"\">, according to the company\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/investors.ups.com\/_assets\/_c07a7867adcd73cf52184c6073d6f727\/ups\/news\/2023-04-25_UPS_Releases_1Q_2023_2090.pdf\" style=\"\">earnings<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/investors.ups.com\/_assets\/_c07a7867adcd73cf52184c6073d6f727\/ups\/news\/2023-04-25_UPS_Releases_1Q_2023_2090.pdf\" style=\"\">release (pdf)<\/a><\/span><span style=\"\">. <\/span><span> The quarter\u2019s revenues fall <\/span><span style=\"\">short of analysts' average estimate of USD 23 bn, which \u201cdemonstrates that the economy is slowing and the company is seeing volume risk in 2023,\u201d Third Bridge analyst Anthony DeRuijter said, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/business\/ups-profit-falls-lower-e-commerce-demand-2023-04-25\/\" style=\"\">Reuters<\/a><\/span><span style=\"font-weight:400;\"> reports. The company\u2019s projected full-year revenues for 2023 are USD 97 bn, which is at the lower end of its previous forecast of USD 97-99.4 bn. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The explanation: <\/span><span style=\"font-weight:400;\">Delivery firms are saddled with a bloated delivery capacity after the spike in online sales during the covid-19 pandemic started to dissipate due to high inflation, affecting discretionary spending. This could lead to a delayed recovery in volumes for the shipping industry, which was expecting relief in the back half of the year.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>UPS\u2019 revenues fell 6% y-o-y in 1Q 2023 to USD 22.9 bn, according to the company\u2019s earningsrelease (pdf). The quarter\u2019s revenues fall short of analysts' average estimate of USD 23 bn, which \u201cdemonstrates that the economy is slowing and the company is seeing volume risk in 2023,\u201d Third Bridge analyst Anthony DeRuijter said, Reuters reports. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":70375,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[56],"tags":[174,17,55,620],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-70374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-logistics-in-the-news","tag-earnings-watch","tag-enterprise-logistics","tag-logistics-in-the-news","tag-ups","wpautop","entry"],"acf":{"mongo_id":"188c8673-57c7-40ea-8dce-498194e908aa","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/872.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UPS reports lower 1Q 2023 revenue as freight volumes remain strained","related_issue":[70363],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.b806bb15-b661-4b9d-8dc0-d09d2dfa8dc3.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>UPS reports lower 1Q 2023 revenue as freight volumes remain strained - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/2023\/04\/27\/ups-reports-lower-1q-2023-revenue-as-freight-volumes-remain-strained\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UPS reports lower 1Q 2023 revenue as freight volumes remain strained\" \/>\n<meta property=\"og:description\" content=\"UPS\u2019 revenues fell 6% y-o-y in 1Q 2023 to USD 22.9 bn, according to the company\u2019s earningsrelease (pdf). The quarter\u2019s revenues fall short of analysts&#039; average estimate of USD 23 bn, which \u201cdemonstrates that the economy is slowing and the company is seeing volume risk in 2023,\u201d Third Bridge analyst Anthony DeRuijter said, Reuters reports. 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