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Congrats to the Kansas City Chiefs... and UPS

Feb 16, 2024 · 3 minutes read

While not as nationally celebrated as the Super Bowl, UPS had a big win last week, too, and the stock market is showing signs of trust in the carrier's future. In today's blog post, we'll discuss UPS's recent success and whether you should change your shipping strategy in response.

UPS has its best day in over a year

At the end of January, UPS released its Q4 2023 earnings report— a bleak reflection of the year's decline in shipping demand coupled with the fallout from the potential Teamsters strike. In its earnings call, the carrier announced that it would take steps to cut costs and increase earnings, including reducing its workforce by 12,000 positions.

In response, UPS stock prices saw their greatest single-day leap since February 2022, soaring 5% in a single day to $146. UPS stock continued its upward trajectory in the following days, closing at $147.45 on Monday, February 12. Although promising, the current stock increases still leave the carrier at a net loss for 2024.

While 75% of UPS layoffs are scheduled for the first half of the year, the company's stocks' upward trend isn't based on what's happening now. Instead, investors are betting on what could happen with the carrier in the coming months. Based on the numbers, it appears investors think that UPS's planned layoffs are a step in the right direction.

Should you make changes in light of UPS's soaring stocks?

According to preliminary Nielsen figures, Sunday's game was the most-watched television event in US history. A single game captivated the attention of 123.4 million Americans, uniting them as they celebrated football, friendships, and maybe even a friendly wager.

In light of UPS's big comeback, is it time for you to take a gamble, too?

While the market seems eager to reward UPS for its plan to cut costs through layoffs, the team at ShipRx urges cautious optimism. UPS's strategy will pay off if all goes to plan, but the ball is still in shippers' hands.

Now is the time to negotiate rates to lock in great pricing while UPS is eager for guaranteed income. ShipRx's team has decades of industry experience and can pinpoint areas where you're paying too much.

For even more savings, set up an automatic parcel audit. ShipRx's proprietary software performs over 40 checks on every parcel you send to identify service failures and secure refunds on your behalf.

Getting started with ShipRx is free, and the potential for payoff is excellent. We have a 100% success rate securing shipping savings, so don't wait until overtime to contact us.

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Todd ShipRx Partner