UPS profit beats estimates as cost cuts offset weak delivery demand

Yahoo Finance— UPS reported a 3.2% decline in average daily volumes in its domestic segment and a 5.8% drop in its international segment, but said volumes "showed improvement through the quarter". "Revenue in both major businesses, U.S. Domestic and International, fell short of expectations," said Jonathan Chappell, equity analyst at Evercore ISI, in a research note.

Yahoo Finance—3M beats profit estimates on price hikes, cost cuts. 3M said its dividend payout ratio is expected to be 40% of adjusted free cash flow, with a potential to increase over time following the spin off of its healthcare business. The company has benefited from steady price increases across categories, which have helped it offset inflation and slow demand in its electronics business. "We improved performance in our businesses through strong operational execution, completed the spin-off of Solventum, and finalized two major legal settlements,"...

CNBC—UPS profit falls on high labor costs, weak small-package demand. reported a decline in first-quarter profit on Tuesday, as margins came under pressure from subdued demand for small-package delivery and...

CNBC—Pfizer beats revenue estimates, raises profit outlook on cost cuts and strong non-Covid sales. The results come as Pfizer tries to regain its footing after the rapid decline of its Covid business.