United Parcel Service, Inc. provides earnings guidance for first quarter and full year 2020 and 2021. In the first quarter, The company expects EPS to be in the range of 17% to 18% of full year adjusted EPS midpoint driven by tougher year-over-year Supply Chain and Freight comps, softer macro conditions as well as the significant initial costs associated with SMB initiatives. In 2020 revenue is expected to grow significantly. In 2021, The company expects EPS and margin accretion from these initiatives.