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Real-time Estimate Quote. Real-time Estimate Cboe BZX - 10/22 10:23:48 am
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Amazon com : UPS adds gig delivery with Roadie acquisition

09/10/2021 | 09:55am EDT
FILE PHOTO: A UPS employee checks his vehicle at a UPS diesel fuel pump facility in Los Angeles

Sept 10 (Reuters) - United Parcel Service Inc on Friday announced plans to buy Roadie, a crowd-sourced, same-day delivery company whose major clients include home improvement chain Home Depot.

The tie-up comes after key UPS retail customers like Amazon.com Inc, Walmart Inc and Target Corp built or bought gig delivery services to provide speedy local delivery of everything from fresh food to bulky furniture.

UPS and Roadie did not disclose financial terms of the deal, which is scheduled to close in the fourth quarter.

It would add new UPS services just in time for the peak holiday shipping season when demand for local home delivery will surge.

"Roadie often provides service for shipments not compatible with the UPS network because of their size and perishable nature, and often because they are in shopping bags without the packaging required to move through the UPS system," UPS said in a statement.

Following the completion of the acquisition, Roadie will continue to operate with its existing name.

Goods transported by Roadie will not cross into the UPS network and packages transported by UPS will not cross into the Roadie network, UPS said.

UPS is the single largest employer in the Teamsters Union, and the company's delivery drivers are some of the industry's best compensated.

"(Roadie's) goods should not cross over to UPS and vice versa. We will watch closely to ensure that Teamster bargaining unit work is protected," Teamsters spokesperson Kara Deniz said.

Shares in UPS were up 1.4% to $191.67 in midday trading. Shares in rival FedEx Corp were down 0.6% to $258.64.

(Reporting by Lisa Baertlein in Los Angeles; Editing by Jan Harvey, Steve Orlofsky and David Gregorio)

© Reuters 2021
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Analyst Recommendations on AMAZON.COM, INC.
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Financials (USD)
Sales 2021 476 B - -
Net income 2021 27 005 M - -
Net cash 2021 57 270 M - -
P/E ratio 2021 65,8x
Yield 2021 -
Capitalization 1 740 B 1 740 B -
EV / Sales 2021 3,54x
EV / Sales 2022 2,92x
Nbr of Employees 1 298 000
Free-Float 82,5%
Duration : Period :
Amazon.com, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends AMAZON.COM, INC.
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Income Statement Evolution
Mean consensus BUY
Number of Analysts 49
Last Close Price 3 435,01 $
Average target price 4 178,90 $
Spread / Average Target 21,7%
EPS Revisions
Managers and Directors
Andrew R. Jassy President, Chief Executive Officer & Director
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Jeffrey P. Bezos Executive Chairman
Patricia Q. Stonesifer Independent Director
Thomas O. Ryder Independent Director
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