United Parcel Service (NYSE: UPS) saw a return to volume growth in the quarter, but higher-than-expected expenses weighed on results.

Shares of UPS traded down 12% as of 10 a.m. ET after the company reported a top- and bottom-line miss.

It has been a tough 18 months for transportation companies. A surge in shipping after the height of the pandemic gave way to uncertainty about the health of the economy, causing large corporate customers to cut back on inventories and softening shipping demand and pricing.

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Source Fool.com