United Parcel Service’s (UPS) newly launched electric delivery truck is seen in Compton, California, U.S., September 13, 2023.
Lisa Baertlein | Reuters
United Parcel Service reported a decline in first-quarter profit on Tuesday, as margins came under pressure from subdued demand for small-package delivery and higher costs tied to a new labor contract with the Teamsters union.
The world’s biggest package delivery firm by market capitalization posted an adjusted profit of $1.43 per share for the quarter, compared with $2.20 per share a year ago.
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