A United Parcel Service (UPS) truck delivers boxes in Manhattan on April 26, 2022 in New York City.
Spencer Platt | Getty Images
United Parcel Service shares fell Tuesday after the American trucking and delivery giant reported first-quarter misses on both earnings and revenue.
To some analysts, the relatively weak report from UPS hints at a wider economic slowdown, particularly when coupled with CEO Carol Tomé’s comments.
“In the first quarter, deceleration in U.S. retail sales resulted in lower volume than we anticipated, and we faced ongoing demand weakness in Asia,” Tomé said in a statement. “Given current macro conditions, we expect volume to remain under pressure.”
Here’s how UPS…