CLAIM #60249 · United Parcel Service Inc (UPS) · 2024Q1 earnings call · Apr 23, 2024 · due Dec 31, 2024
“We'd expect that base rate to continue over the course of the year.”
Brian O. Newman · CFO
In context
“, and it's resonating very well. PJ Guido : Hey, Stephen, we have time for one more question. Operator: Our last question will be a follow-up from the line of David Vernon of Bernstein. Please go ahead, sir. David Vernon : Thanks for coming back to me. I just wanted to ask about -- you mentioned the pricing environment being kind of rational. Could you elaborate on how effective the GRI has been this year? What's the stick rate there? And as you think about the underlying performance in domestic yields ex some of the mix headwinds, could you talk a little bit about the trajectory or the rate of change through the quarter? Brian Newman : Yeah, Dave, we had expected about a 50% keep rate. We saw a 240 -- roughly 250 basis points in the first quarter. So generally, in line with expectations. We'd expect that base rate to continue over the course of the year. I think Carol hit on a couple of the key points around the other elements of pricing. There's a fuel piece. There's PSS in the back -- in the peak season and then there's the mix component that we've been talking about the focus on commercial on SMB and health care. So all those things combined give us confidence that we'll deliver a low single digit from an RPP second half of the year. David Vernon : Okay. Thank you. Carol Tome : Thank you. Operator: I will now turn the floor back over to our host, Mr. P.J. Guido. Please go ahead, sir. PJ Guido: Thank you, Steven. This concludes our call. Thank you for joining, and have a good day.”
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SEC filings for UPS ↗ · Claim quote is verbatim from the 2024Q1 earnings call.