United Parcel Service, Inc. Class B - UPS STOCK NEWS

UPS Healthcare, a division of UPS, has announced a significant expansion of its global cold chain logistics capabilities with new facilities in Louisville, Kentucky, and ongoing growth across Europe and Asia-Pacific. This expansion is aimed at enhancing efficiency, sustainability, and cost-effectiveness in healthcare delivery. The newly opened Cold Chain Packaging Center of Excellence will provide reusable cold chain packaging options. The cold chain market is expected to grow by up to 24% by 2024, driven by the demand for biologically derived drugs and temperature-sensitive medicines.

UPS announced a quarterly dividend of $1.02 per share on all outstanding Class A and Class B shares, payable on December 8, 2021, to shareholders of record as of November 22, 2021.

This commitment to dividends has been a hallmark of UPS's financial strength, maintaining or increasing dividends annually since its public offering in 1999. In 2020, UPS reported $84.6 billion in revenue, showcasing its robust presence in integrated logistics solutions across 220 countries.

UPS (NYSE: UPS) will host its annual 'UPS Brown Friday' hiring event from November 4-6, aiming to recruit at least 60,000 seasonal workers to support holiday shipping demands. The initiative includes over 400 local hiring events and virtual options, reaching more than 1,200 locations nationwide. Historically, about one-third of seasonal hires transition to permanent roles post-holiday. UPS also offers a referral incentive of $200 for current employees and provides eligible student employees with tuition assistance up to $1,300 for continuous employment.

UPS reported third-quarter 2021 revenues of $23.2 billion, up 9.2% from the previous year. Operating profit reached $2.9 billion, marking a 22.6% increase, while diluted EPS was $2.65, an 18.3% rise year-over-year. The company raised its full-year financial guidance, targeting an adjusted operating margin of approximately 13.0% and an adjusted return on invested capital near 29%. Furthermore, year-to-date cash from operations stood at $11.8 billion, up 26.7% compared to last year.

UPS (NYSE:UPS) will release its third-quarter results for 2021 on October 26, 2021, at 6:00 a.m. ET. Following the results announcement, a live investor conference call will be held at 8:30 a.m. ET, led by CEO Carol Tomé and CFO Brian Newman. The call will be accessible to the public via a live webcast on the UPS investor relations website, where the audio will also be available for a limited time afterward.

ALLETE Inc. (NYSE: ALE) has appointed Charlene A. Thomas, former Chief Diversity, Equity, and Inclusion Officer at United Parcel Service (NYSE: UPS), to its board of directors effective October 4, 2021. With over 30 years of experience at UPS, Thomas has held multiple leadership roles and brings extensive knowledge in human resources and strategic planning. ALLETE's leadership stated that her experience will be instrumental in advancing the company's sustainability strategies and addressing evolving customer needs within transformative challenges.

UPS has announced its agreement to acquire Roadie, a technology platform specializing in local same-day delivery across the U.S. This acquisition aligns with UPS's customer-first strategy, responding to the increasing demand for local delivery solutions for a variety of goods. Roadie’s innovative technology will enhance UPS’s offerings and potentially improve small package capabilities. The transaction is expected to close in Q4 2021, although the financial details remain undisclosed. Post-acquisition, Roadie will maintain its operations and brand, ensuring continuity in service.

UPS announced plans to hire over 100,000 seasonal employees to handle the expected rise in package volume from October 2021 to January 2022. With an aim for a swift hiring process, candidates can receive job offers in under 30 minutes. Positions include package handlers, drivers, and driver helpers, with competitive wages offered. Their record shows that one-third of seasonal hires transitioned to permanent roles. Additionally, eligible student employees can earn up to $1,300 towards college expenses through the Earn and Learn program. Vaccination for COVID-19 is encouraged.