UPS Beats Q3 Earnings and Revenue Estimates, Stock Surges, Revises Full-Year Outlook

Oct 24, 2024, 10:34 AM

United Parcel Service (UPS) reported its Q3 2024 earnings, surpassing analysts' expectations with an adjusted EPS of $1.76, compared to the estimated $1.65. The company's revenue for the quarter reached $22.2 billion, exceeding the forecasted $22.16 billion. This marks a 5.6% increase from the same period last year. Despite the positive earnings, UPS has revised its full-year revenue outlook to $91.1 billion, down from the previous estimate of $93 billion. The company continues to expect capital expenditures of around $4.0 billion and dividend payments of approximately $5.4 billion, subject to board approval. UPS reported a non-GAAP operating margin of 8.9% and a domestic margin of 6.7%. The company's market cap stands at $112.56 billion. UPS's stock surged following the earnings report, reflecting investor confidence in the company's performance.