United Parcel Service, Inc. (UPS - Free Report) is leaving no stone unturned to achieve a record-setting peak shipping season. To this end, the company hopes to hire 100,000 seasonal employees, anticipating a significant expansion in package volumes during the November 2019-January 2020 period. UPS expects daily package deliveries to nearly double its per day average of 20 million.
Notably, last year too, the company hired the same number of temporary workers for the peak holiday season when it expected to deliver approximately 800 million packages, indicating a 5% rise from what was delivered in 2017.
Last month, the company announced that it will not levy additional surcharges on U.S. residential deliveries (barring contractual exception) during this year’s peak holiday season. This is a bonus for customers and should further boost package delivery volumes. (Read more: UPS to Refrain From Delivery Surcharges for 2019 Peak Season)
Moreover, UPS has added 20 747-8 and 767 aircraft as well as updated its processing and delivery facilities on expectations of a large number of deliveries during the peak season. Additionally, as part of a capital investment plan, the company is enhancing its air and ground capacity.
Zacks Rank & Key Picks
UPS carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are GATX Corporation (GATX - Free Report) , Allegiant Travel Company (ALGT - Free Report) and Copa Holdings, S.A. (CPA - Free Report) . While Copa sports a Zacks Rank #1 (Strong Buy), GATX and Allegiant carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of GATX, Allegiant and Copa have rallied more than 13%, 50% and 28%, respectively, so far this year.
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