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United Parcel Service (UPS) to Sell Coyote Logistics to RXO

Zacks Equity Research
·2 分鐘文章

United Parcel Service UPS is gearing up with its business operations. To this end, the company announced that it had inked a deal to sell its Coyote Logistics business unit to RXO, Inc., for $1.025 billion.

RXO is a Charlotte, NC-based transportation and logistics company.

Although the deal amount is less than what UPS paid to buy Coyote Logistics from Warburg Pincus in 2015, the deal is expected to help UPS focus on its core businesses by letting out resources to build new services and solutions to meet clients’ future needs.

Subject to regulatory review and approval, the deal is anticipated to close by the end of 2024. On completion of the deal, United Parcel Service will update its financial guidance.

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Chicago-based Coyote Logistics is a global third-party logistics (3PL) provider, working with 100,000 network carriers and managing 10,000 loads per day.

UPS chief executive officer Carol B. Tome stated, "As UPS positions itself to become the premium small package provider and logistics partner in the world, the decision to sell our Coyote Logistics business allows an even greater focus on our core business."

Zacks Rank and Stocks to Consider

United Parcel Service currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks for investors’ consideration in the Zacks Transportation sector include GATX Corporation GATX and Trinity Industries, Inc. (TRN). Each stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

GATX has an encouraging earnings surprise history. The company has surpassed the Zacks Consensus Estimate in three of the last four quarters (missing the mark in the other). The average beat is 7.49%.

The Zacks Consensus Estimate for 2024 earnings has been revised 3% upward over the past 90 days. GATX has an expected earnings growth rate of 6.79% for 2024. Shares of the company have rallied 18.4% in the past year.

Trinity raised 2024 earnings per share guidance to the range of $1.35 to $1.55 (which excludes items outside of the company’s core business operations) from $1.30 to $1.50 guided previously.

Over the past 30 days, the Zacks Consensus Estimate for TRN’s 2024 earnings has been revised 2.7% upward. For 2024, TRN’s earnings are expected to grow 8.70% year over year.

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United Parcel Service, Inc. (UPS) : Free Stock Analysis Report

Trinity Industries, Inc. (TRN) : Free Stock Analysis Report

GATX Corporation (GATX) : Free Stock Analysis Report

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Zacks Investment Research