UPS stock down before market open as company gives softer-than-expected full-year revenue outlook

Shares of UPS are falling before the market open on Tuesday as the package delivery company gave a weaker-than-expected full-year revenue forecast

UPS slid before the opening bell after a mixed quarter and an outlook for this year that was weaker than expected.

Last year union members at UPS voted to approve a tentative contract agreement, putting a final seal on contentious labor negotiations that threatened to disrupt package deliveries for millions of businesses and households nationwide.

United Parcel Service Inc. anticipates 2024 revenue in a range of approximately $92 billion to $94.5 billion.

Analysts surveyed by FactSet predict revenue of $95.51 billion.

UPS also posted fourth-quarter revenue of $24.92 billion, below analysts' estimates of $25.31 billion and a decline of 7.8% from the prior year.