United Parcel Service, Inc. (UPS) is a leading global package delivery company and provider of supply chain management solutions . The company operates through two main reportable segments: U.S. Domestic Package and International Package, collectively referred to as global small package operations, and Supply Chain Solutions . UPS's services include transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance . The company also operates one of the largest airlines and fleets of alternative fuel vehicles globally .
- Global Small Package Operations - Provides time-definite delivery services for express letters, documents, small packages, and palletized freight via air and ground services. This segment includes:
- U.S. Domestic Package - Involves the time-definite delivery of letters, documents, and packages throughout the United States .
- International Package - Covers delivery to over 200 countries and territories worldwide .
- Supply Chain Solutions - Offers transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services .
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Carol B. Tomé ExecutiveBoard | Chief Executive Officer (CEO) | Board Member at Verizon Communications, Inc. | Carol B. Tomé became CEO in June 2020, bringing extensive experience in logistics, corporate finance, and risk management. She previously served as CFO at The Home Depot and has been a UPS board member since 2003. | View Report → |
Bala Subramanian Executive | Chief Digital and Technology Officer | None | Bala Subramanian joined UPS in July 2022 and leads the company’s digital transformation and technology strategy. | |
Brian M. Dykes Executive | Chief Financial Officer (CFO) | None | Brian Dykes was appointed CFO in July 2024 after over 25 years at UPS, holding roles in finance, accounting, and corporate treasury. He previously served as SVP, Global Finance and Planning. | |
Darrell Ford Executive | EVP, Chief Human Resources and DEI Officer | None | Darrell Ford joined UPS in 2021 and expanded his role in 2022 to include Diversity, Equity, and Inclusion. He previously held HR leadership roles at DuPont and Xerox. | |
Kate M. Gutmann Executive | EVP and President, International, Healthcare, and Supply Chain Solutions | None | Kate Gutmann joined UPS in 2022 and focuses on global markets, healthcare logistics, and supply chain solutions. She previously led sales and solutions at UPS. | |
Laura Lane Executive | EVP, Chief Corporate Affairs, Communications, and Sustainability Officer | None | Laura Lane has been with UPS since 2011 and became EVP in 2020. She oversees corporate affairs, communications, and sustainability initiatives. | |
Matt Guffey Executive | Chief Commercial and Strategy Officer | None | Matt Guffey has been with UPS since 1999 and became Chief Commercial and Strategy Officer in 2024. He oversees strategy, marketing, and the on-demand network. | |
Nando Cesarone Executive | EVP and President, U.S. | None | Nando Cesarone has been with UPS since 2020, previously serving as President of UPS International and Europe Region Manager. He focuses on U.S. operations and sales. | |
Norman M. Brothers, Jr. Executive | EVP, Chief Legal and Compliance Officer, and Corporate Secretary | None | Norman Brothers joined UPS in 2016 and became EVP in 2020. He oversees legal, compliance, and corporate governance functions. | |
Angela Hwang Board | Director | Advisor to Pfizer, Inc.; Board Member at Pfizer Foundation and European Federation of Pharmaceutical Industries and Associations | Angela Hwang joined the UPS board in 2020 and brings expertise in healthcare and global business operations. | |
Christiana Smith Shi Board | Director | Founder and Principal at Lovejoy Advisors, LLC; Board Member at Columbia Sportswear Company | Christiana Shi joined the UPS board in 2018 and brings expertise in digital commerce, global retail operations, and supply chain management. | |
Eva C. Boratto Board | Director | CFO at Bath & Body Works, Inc. | Eva Boratto joined the UPS board in 2020 and chairs the Audit Committee. She is also the CFO of Bath & Body Works. | |
Franck J. Moison Board | Director | Board Member at Hanes Brands, Inc. and SES-imagotag; Chairman of International Advisory Board of EDHEC Business School | Franck Moison joined the UPS board in 2017 and brings expertise in consumer product innovation and emerging markets. | |
Kate E. Johnson Board | Director | President and CEO of Lumen Technologies, Inc. | Kate Johnson joined the UPS board in 2020 and brings expertise in digital transformation and leadership from her roles at Microsoft and GE. | |
Kevin M. Warsh Board | Director | Board Member at Coupang, Inc.; Distinguished Fellow at Stanford Hoover Institution | Kevin Warsh joined the UPS board in 2012 and brings expertise in economics, financial markets, and monetary policy. | |
Michael J. Burns Board | Director | None | Michael Burns has been a UPS board member since 2005. He brings expertise in technology, engineering, and manufacturing from his leadership roles at Dana Incorporated and General Motors. | |
Rodney C. Adkins Board | Director | Non-Executive Chairman of Avnet, Inc.; Board Member at PayPal Holdings, Inc. and W.W. Grainger, Inc. | Rodney Adkins has been a UPS board member since 2013 and chairs the Risk Committee. He brings expertise in technology and risk management from his career at IBM. | |
Wayne M. Hewett Board | Director | Senior Advisor to Permira; Non-Executive Chairman of Cambrex Corporation and Quotient Sciences; Board Member at The Home Depot, Inc. and Wells Fargo, Inc. | Wayne Hewett joined the UPS board in 2020 and brings expertise in supply chain, operational management, and emerging technologies. |
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With the completion of 45 operational closures and the removal of about 1 million ADV per day of capacity, how will this reduction affect your ability to handle increased volumes during the compressed peak holiday season, especially given the expected surge on December 18?
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Revenue per piece in the U.S. Domestic segment declined 2.2% year-over-year, impacted by factors like lighter weights and shorter zones; what strategies are you implementing to sustain revenue quality improvements amidst these ongoing pressures?
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Considering the sale of Coyote and the acquisition of Frigo-Trans, how do these moves align with your long-term growth strategy in Supply Chain Solutions, and what are the anticipated impacts on your operating margins in this segment?
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Given the macro environment was worse than expected, with slowing online sales and lower manufacturing activity, how confident are you in achieving your updated full-year revenue of approximately $91.1 billion, and what contingency plans are in place if economic conditions deteriorate further?
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As union wage rate growth slowed to 5.2% and productivity initiatives offset 50% of the wage increase, can you provide more detail on how you plan to continue driving cost efficiencies without compromising service levels, particularly as you execute additional projects in 2025?
Research analysts who have asked questions during UNITED PARCEL SERVICE earnings calls.
Jordan Alliger
Goldman Sachs
5 questions for UPS
Ken Hoexter
BofA Securities
5 questions for UPS
Ariel Rosa
Citigroup
4 questions for UPS
Brian Ossenbeck
JPMorgan Chase & Co.
4 questions for UPS
Christian Wetherbee
Wells Fargo
4 questions for UPS
David Vernon
Sanford C. Bernstein & Co., LLC
4 questions for UPS
J. Bruce Chan
Stifel
4 questions for UPS
Scott Group
Wolfe Research
4 questions for UPS
Thomas Wadewitz
UBS
4 questions for UPS
Stephanie Benjamin Moore
Jefferies
3 questions for UPS
Bascome Majors
Susquehanna Financial Group
2 questions for UPS
Brandon Oglenski
Barclays
2 questions for UPS
Jason Seidl
TD Cowen
2 questions for UPS
Joseph Lawrence Hafling
Jefferies
2 questions for UPS
Ravi Shanker
Morgan Stanley
2 questions for UPS
Ben Mohr
Citigroup Inc.
1 question for UPS
Conor Cunningham
Melius Research
1 question for UPS
Daniel Imbro
Stephens Inc.
1 question for UPS
Jake Lacks
Wolfe Research, LLC
1 question for UPS
Jonathan Chappell
Evercore ISI
1 question for UPS
Justine Weiss
Bernstein
1 question for UPS
Ravi Shankar
Morgan Stanley
1 question for UPS
Rob Salmon
Wells Fargo & Company
1 question for UPS
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Amazon.com, Inc. | Shipping & Delivery Services | U.S. Domestic Package | Revenue: 11.8% of consolidated (2024) Accounts Receivable: 12.8% (2024) Planned Volume Reduction: >50% reduction by June 2026 |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Frigo-Trans | 2025 | Completed in January 2025 for approximately $440 million, this acquisition of a European healthcare logistics company specializing in cold-chain logistics is aimed at strengthening UPS's international healthcare logistics capabilities. |
Biotech & Pharma Logistics | 2025 | Completed in January 2025 with a transaction value of about $440 million, this acquisition of a leading German healthcare logistics provider enhances UPS's international cold-chain logistics network. |
Estafeta | 2024 | Announced in July 2024 and expected to close by year-end pending regulatory approval, the acquisition of this prominent domestic small package provider in Mexico supports UPS’s near-shoring strategy and expands its logistics network with 145 facilities covering much of Mexico. |
MNX Global Logistics | 2023 | Finalized in Q4 2023 after an agreement in Q3, the acquisition—part of an aggregate $1.3 billion deal with Happy Returns—enhances UPS's capabilities in time-critical and temperature-sensitive logistics for healthcare, including expansion into new markets such as Asia. |
Happy Returns | 2023 | Closed on November 1, 2023, this acquisition of a technology-driven returns solutions provider integrates its box-free, label-free return technology with UPS’s network, thereby strengthening the e-commerce returns service and enhancing customer experience. |
Delivery Solutions | 2022 | Completed in 2022, the acquisition of this carrier-agnostic digital platform fortifies UPS's digital commerce solutions by streamlining same-day and small package deliveries, and integrating with UPS’s broader logistics-as-a-service strategy backed by cash from operations. |
Recent press releases and 8-K filings for UPS.
- UPS introduces the first-ever Driver Voluntary Severance Plan, offering union drivers a financial package plus retirement benefits to streamline operations amid declining parcel volumes and economic uncertainty.
- This follows prior cost cuts including 20,000 job cuts and plans to close 73 facilities by June 2025, with additional closures expected.
- The International Brotherhood of Teamsters calls the plan an illegal violation of the 2023 contract mandating 30,000 new full-time jobs, warning it undermines union commitments.
- In Q1 2025, UPS saw a 0.7% revenue decline to $21.5 billion and a 6.6% rise in net income to nearly $1.2 billion, while average daily U.S. package volume fell from 18 million to 17.4 million.
- UPS entered into an Underwriting Agreement to offer $170,673,000 aggregate principal amount of Floating Rate Senior Notes due 2075 with designated underwriters, as disclosed in the filing.
- The issuance is being executed under a Shelf Registration Statement on Form S-3 with the prospectus declared effective on April 9, 2025, and the net proceeds will be used for general corporate purposes.
- The transaction includes legal opinions confirming that the notes, once issued, will be valid and binding under federal and Delaware law.
- UPS reported consolidated Q1 2025 revenue of approximately $21.5 billion (≈$21.546B) with a 0.7% YoY decline and non-GAAP diluted EPS of $1.49 .
- Operating profit reached approximately $1.7B–$1.8B, reflecting modest YoY improvements (noted as an 8.2% margin and a 3.3% increase) .
- The U.S. Domestic segment generated $14.5B in revenue, up 1.4% YoY, with enhanced operating profit and margins .
- UPS is advancing extensive network reconfiguration and automation efforts, including a reduction of Amazon’s fulfillment volume by over 50% by June 2026 and plans to close a total of 164 operations (with 73 buildings closing by June) .
- Additional cost reduction initiatives aim for $3.5B in savings in 2025 .
- In segment highlights, international revenue remained stable while Supply Chain Solutions declined by 14.8% to $2.7B, and the full-year guidance remains cautious amid macro-economic uncertainty with further details expected in Q2 .