UPS Stock Plummets on Revenue Miss and Downbeat Outlook

UPS's stock sank after reporting fourth-quarter revenue that missed expectations and providing a downbeat 2024 outlook, despite exceeding profit expectations and increasing its dividend. The company's net income more than halved, with revenue falling for the sixth consecutive quarter, particularly in its U.S. domestic and international businesses. UPS's supply-chain solutions revenue exceeded expectations, but the overall outlook for 2024 is below consensus, with an expected decline in adjusted operating margin.