Why UPS Stock is Declining Quickly  FedEx Earnings Stock

Why UPS Stock is Declining Quickly

Following a 15% decline in FedEx Corp shares on the company's preliminary results, United Parcel Service Inc. shares are trading lower on Thursday after-hours trade.

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FedEx claimed that the global volume softening that accelerated in the latter weeks of the quarter had a negative impact on its fiscal first-quarter results.

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According to current projections, the company's first-quarter revenue will be close to $23.2 billion

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its first-quarter adjusted earnings will be close to $3.44 per share.

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Additionally, FedEx removed its projected financial results for 2023.

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In the second quarter, the company anticipates that business conditions will deteriorate even more.

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In the field of package delivery, there is a direct rivalry between UPS and FedEx.

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Price movement for UPS: The 52-week high for UPS is $233.72, while the 52-week low is $165.34.

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At the time of publication, the stock was down 5.41% after hours and trading at $174.98.

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