UPS Inc. reported first-quarter earnings that were lower than this time in 2022, and were mixed compared with Wall Street expectations. UPS reported a quarterly income decline of nearly 23% to $2.55 billion, or $2.20 a share, compared with $3.30 billion, or $3.05 a share, in the same period a year ago. The company reported year-over-year revenue fell 6% to $22.93 billion compared with $24.3 billion in 2022. UPS said the declines were the result of sagging consumer spending that pushed fewer packages through its networks.

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