UPS's weekly-resetting fuel surcharge mechanism functionally passes through volatile jet and diesel costs to customers with minimal lag, insulating margins from commodity swings that could otherwise compress earnings. This contractual pass-through capability reflects embedded pricing power in a capital-intensive, fuel-exposed business.
the thesis · admitted · the reason above is the thesis, not printed twice
no findingread · nothing bore on it
It held on this filing. No finding was written because nothing in it bore on the reason — the sentences it was read against are below.
the evidence · every sentence checkedthree sentences · whole, uncut
the claims it rests on · in our words, not the filing’s