United Parcel Service reported better-than-expected quarterly profits and raised its full-year adjusted operating margin forecast. The company attributed this to its decision to divest its volatile truckload brokerage business, Coyote Logistics. UPS saw an increase in average daily volumes in its domestic segment, with an adjusted operating margin rising from a year ago. UPS has experienced a shift from premium air services to lower-profit ground services, driven by new e-commerce entrants like Shein and Temu. Shares of UPS rose in premarket trading.
