UPS and Fluor Trade 40% Below All-Time Highs

United Parcel Service and Fluor Corporation are both trading approximately 40% below their all-time highs as they attempt to reverse declines caused by macroeconomic headwinds. UPS faced a drop in daily package volume and revenue from 2021 to 2025, resulting from a post-pandemic delivery slump, intense competition from FedEx, and a reduction in lower-margin orders from Amazon. The company also managed margins following a 2023 contract agreement with the International Brotherhood of Teamsters to avoid a strike. UPS is now stabilizing its business by increasing automation and targeting small-to-medium business and healthcare customers, with 2026 projections forecasting a 3% rise in revenue and a 1% increase in adjusted EPS.

Fluor Corporation has dealt with historical boom-and-bust cycles tied to the COVID-19 pandemic and global financial crises. The engineering and construction firm is mitigating future risk by shifting its project model toward reimbursable contracts, which now account for over 80% of its backlog. Furthermore, Fluor liquidated its stake in NuScale Power, generating an estimated $1.86 billion in raw profit intended to fund share buybacks.