CLAIM #60115 · United Parcel Service Inc (UPS) · 2023Q2 earnings call · Aug 8, 2023 · due Dec 31, 2023
“This year, we had guided to roughly a 500-basis point improvement in rate, and then we had expected about 200 basis point headwind in fuel to land at about 3%. So we're staying with that guide for this year.”
Brian O. Newman · CFO
In context
“gan. Brian Ossenbeck: Just wanted to see if disagreement now behind you and out for ratification. Has that changed any of your thinking about the timing and magnitude of GRI or pricing in general? Maybe, Brian, you can give more detail on RPP trends and mix in the U.S. And then, Carol, I wanted to see, you mentioned the SurePost Advantage. Can you just give some context around the USPS Ground Advantage product that just launched? And if you see that as a competitive threat now that it's been out there for a month or so, maybe some initial impressions of that service and what they're able to deliver and what it means for you. Thanks. Brian Newman: Yes, Brian. Thanks for the question. So look, every year, we evaluate the GRI to provide the right service at the right price for our customers. This year, we had guided to roughly a 500-basis point improvement in rate, and then we had expected about 200 basis point headwind in fuel to land at about 3%. So we're staying with that guide for this year. Brian, coming up here in the fall, we'll take a look at next year but the thing I would leave you with is we remain very disciplined on revenue management, and we'll continue to deliver value for the service we provide. Carol Tomé: And on our SurePost product, it compares very favorably to the [indiscernible] product, and we're going to continue to invest in that product. We like it a lot because of the delivery density associated with that product. Operator: Our next question will come from the line of Ravi Shanker of Morgan Stanley. Ravi Shanker: Carol, can you give us a little more color on the $7 billion sales pipeline? Kind of what kind of customers, what kind of end markets? I haven't heard you guys talk about a sales pipeline before too often. How is that kind of building up or kin”
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SEC filings for UPS ↗ · Claim quote is verbatim from the 2023Q2 earnings call.