CLAIM #60202 · United Parcel Service Inc (UPS) · 2023Q4 earnings call · Jan 30, 2024

“Yeah. The longer-term view is very good. It's 3%. So that's really good growth actually.”

Carol Tome · CEO

How to check this claim

Look at: US domestic small package industry volume growth rate, long-term normalized basis (as referenced by UPS management)

It came true if: Long-term industry growth rate approximately 3% (between 2.5% and 3.5%)

Where: Management commentary on UPS earnings calls or Investor/Analyst Day discussing industry growth outlook

Knowable after: 2026-07-30

In context

“Tome: It just came down faster than Amazon, yeah. Brian Newman: Exactly. PJ Guido: Steven, we have time for one more question. Operator: Our final question will come from the line of Jordan Alliger of Goldman Sachs. Please go ahead, sir. Jordan Alliger: Hi, good morning. So I was sort of thinking about the small package growth that you guys targeted at less than 1% this year. Feels pretty conservative after a couple of years of probably negative industry growth as well. So I'm just sort of curious what's informing that? Is that your economic outlook, your forecast? And then maybe this is your Analyst Day, you'll address it, but sort of on a normalized basis, what kind of small package domestic growth, underlying industry growth you think about over a longer-term basis? Thanks. Carol Tome: Yeah. The longer-term view is very good. It's 3%. So that's really good growth actually. And we're looking forward to getting into that growth mode. We use a number of external factors to inform our perspective on the market growth. We triangulate from a number of different sources and come up with our best view. This is our best view. Jordan Alliger: Okay, thanks. Brian Newman: Thanks, Jordan. Operator: I will now turn the floor back over to our host, Mr. PJ Guido. Please go ahead, sir. PJ Guido: Thank you, Steven. This concludes our call. Thank you for joining, and have a good day.”

Verify independently

SEC filings for UPS ↗ · Quote is verbatim from the 2023Q4 earnings call.