UPS Stock Slides 50% Since 2022 High as 9M Revenue Falls to $64.18B
UPS stock has slid nearly 50% from its $192.88 February 2022 peak to around $100 as 9M 2025 revenue dropped to $64.18B and EPS to $4.46. Analysts forecast 3% revenue and 4% EPS declines for 2025, valuing shares at 14x forward earnings with a 6.6% yield as cost-cutting proceeds.
1. UPS Suspends Standard Pickup and Delivery on New Year’s Day
United Parcel Service will suspend standard pickup and delivery services on January 1 in observance of the holiday. This marks the first full-day service suspension for the company since its record high shipment volumes during the 2021 peak season. While expedited and critical shipments may still be processed for an additional fee, customers should expect delays in ground and air delivery networks. Normal operations will resume on January 2, with UPS’s global network of 125 operating facilities returning to standard schedules.
2. Long-Term Investment Case for UPS
Since going public in late 1999 at an initial valuation of $60.2 billion, UPS has grown into one of the world’s largest logistics providers. At its February 2022 peak, the company processed an average of 25 million packages per day and generated nearly $100 billion in annual revenue. However, shipping volumes slipped back to roughly 20 million packages per day through the first nine months of 2025, and adjusted operating margins contracted from 13.8% in 2022 to under 7% year-to-date. Management has negotiated a new labor contract covering 330,000 unionized employees, divested its freight brokerage arm, and committed over $5 billion to technology upgrades and automation. Analysts forecast revenue and earnings per share to decline by around 3% and 4% in 2025, followed by compound annual growth rates of 2% for revenue and 10% for EPS through 2027. At current valuations, UPS offers a forward dividend yield above 6%, positioning it as a defensive income play, though projections suggest a share price of $340 by 2035 would translate a $10,000 investment into roughly $34,000—well short of millionaire status.