Trading on almost 18 times Wall Street estimates for earnings this year, and with a recent history of disappointing the market, United Parcel Service (UPS -0.83%) stock may seem expensive. Still, the company is highly likely to have passed an inflection point in its earnings in 2024. As such, UPS is less expensive than it might seem.UPS passes an inflection pointUPS earnings represent a tale of two halves in 2024. The first-half adjusted operating profit declined by 30.3% compared to the first half of 2023. ...