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United Parcel Service Inc Class B

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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation

UPS Winning Back Domestic Volume Diversions, but 2024 Outlook Muted

Business Strategy and Outlook

UPS is the giant among global small-parcel delivery companies, and it’s one of three commercial providers that dominate the landscape; FedEx and UPS are the major U.S. incumbents, while DHL Express leads in Europe. UPS has also raised its exposure to the asset-light third-party freight brokerage market, especially with its 2016 acquisition of truckload broker Coyote Logistics. The company divested its less-than-truckload division, UPS Freight, in the second quarter of 2021 as part of CEO Carol Tomé's "better, not bigger" framework.

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