By Dean Seal

UPS is breaking away from Amazon.com.

The package-delivery company said it was cutting volumes from its largest customer by half, and warned its revenue would come in about $6 billion lower than Wall Street expected this year.

Shares in UPS fell about 12% in premarket trading Thursday.

UPS didn't identify the client, but Amazon is its biggest customer. The ecommerce company accounted for roughly 12% of UPS's revenue in 2023. Amazon, however, has been handling more of its own deliveries.

-- UPS said it expected revenue to come in at about $89 billion for 2025, down from $91.1 billion in 2024. This is below the $95 billion expected by analysts polled by FactSet.

-- The company said it had reached an agreement with its top customer to lower volume by more than 50% by the end of 2025. UPS has also decided to insource all of its UPS SurePost products and reconfigure its U.S. network.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

January 30, 2025 07:55 ET (12:55 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.