-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師總結如下：UPS公佈了2026年第一季業績，營收為212億美元（年減1.6%，高於市場預期1.1%），調整後每股收益為1.07美元（年減28.2%，高於市場預期4.9%）。儘管UPS採取了轉型措施，但其整體銷售量較去年同期下降7.8%，降幅遠超亞馬遜的降幅。調整後營業利益率下降200個基點至6.2%。由於單件成本（年增9.5%）超過單件收入成長（較去年同期成長6.5%），國內業務利潤率下降320個基點。 UPS透過網路重構和效率提升計畫在第一季實現了6億美元的成本節約，預計全年將實現30億美元的成本節約。管理層維持了2026年營收897億美元和調整後營業利潤率9.6%的預期，並預計第二季度營運將出現轉折點。鑑於成功的定價策略，我們認為營收預期是合理的，單件營收年增率7.7%，但利潤率預期可能過於樂觀。我們預期伊朗衝突導致的燃油附加費將有助於抵消柴油/航空燃油成本的上漲，但由於消費者對價格上漲的接受度較高，銷售量可能進一步下滑。
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Research
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Erasca Shares Fall After Preliminary Phase 1 Dose Escalation Data
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