UPS Lifts Full-Year Outlook After Q3 Revenue Tops $22.9B
UPS sits 17% above its 52-week low of $87.14.
Summary
UPS raised full-year adjusted EPS guidance to $7.28 from $7.22 and lifted its revenue outlook to about $92.6 billion from roughly $91.2 billion — both above what analysts had modeled. The quarter itself came in ahead: revenue rose 6.7% to $22.9 billion versus the $22.27 billion consensus, and adjusted EPS of $1.69 beat the $1.62 expected. GAAP profit slipped to $1.16 billion, or $1.37 a share, from $1.31 billion a year earlier, with restructuring costs still dragging on reported numbers. The raise is the payoff from phasing out roughly half of lower-margin Amazon volume and cutting tens of thousands of driver and warehouse roles; CEO Carol Tome said the network enters the holiday season more automated and efficient than ever. Shares were up 1.7% premarket.
At the time of this announcement, UPS was trading at $102.30 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $85.4B. The 52-week trading range was $87.14 to $122.41. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.