United Parcel Service (NYSE: UPS) stock is trading down 26% from its 52-week high amid a string of disappointing quarterly results. The logistics and transportation leader has struggled to navigate a shifting operating landscape between lower shipping demand and inflationary cost pressures.

On the other hand, early signs of a potential turnaround in the company's latest update offer investors room for optimism. Could shares of UPS make a good addition to your portfolio now? Here's what you need to know.

A lot has changed for UPS since an online spending-driven shipping boom drove the stock to a record high of $208.86 in February 2022. The company simply failed to live up to high-growth expectations as the markets noted package volumes faltering. Earnings were further pressured as higher fuel and labor costs squeezed profitability margins.

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Source Fool.com