Categories AlphaGraphs, Earnings

United Parcel Service (UPS) tops Q3 earnings view, misses revenue targets

United Parcel Service’s (NYSE: UPS) Q3 earnings exceeded the market’s expectations, while revenue fell short of the consensus views. The logistics firm reported adjusted EPS of $2.07, up 14% and revenue of $18.32 billion, which grew 5% in the third quarter of 2019. Analysts had projected UPS to earn $2.06 per share on revenue of $18.35 billion. The company also reiterated its FY19 adjusted EPS outlook. UPS stock slid about 3% in the pre-market trading hours.

Earnings Infographic of UPS Q3 results

On a GAAP basis, UPS posted a profit of $2.01 per share, up 16% from last year’s third quarter. Operating profit growth of more than 20% in the recently ended quarter was led by the U.S. Domestic and International segments. U.S. Domestic segment had volume gains across all products.

In the U.S. Domestic segment, total volume across all products grew more than 9%. Next Day Air increased nearly 24%; Deferred Air grew more than 17%; and Ground volume rose nearly 7%. Growth came from both B2C and B2B shippers, led by the retail, healthcare and high-tech sectors.

The Atlanta, Georgia-based firm reiterated its fiscal year 2019 adjusted EPS guidance of $7.45 to $7.75, which assumes no further deterioration regarding global trade uncertainty or U.S. industrial weakness. Adjusted free cash flow for the full-year is projected to be over $4 billion.

“As we recently announced, we continue to forge new partnerships and create innovative solutions to accelerate growth in the most attractive opportunities,” said CEO David Abney.

UPS also announced today that its Chief Operating Officer will retire at the end of December 2019.

UPS stock has gained 22% since the beginning of this year and 2% from this time last year.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

Leave a Reply

Your email address will not be published. Required fields are marked *

Add Comment
Loading...

Cancel
Viewing Highlight
Loading...
Highlight
Close
Top