UPS's Q4 2024 earnings report

UPS Q3 Adjusted EPS $1.76, Revenue $22.2B Beat Estimates; First Revenue Beat in Two Years

Oct 24, 2024, 10:14 AM

United Parcel Service Inc. (UPS) reported its third-quarter 2024 earnings, exceeding analysts' expectations on both earnings and revenue. The company posted adjusted earnings per share of $1.76, up from $1.57 in the same quarter last year, and surpassing the consensus estimate of $1.65. Diluted EPS was $1.80. Revenue for the quarter was $22.2 billion, slightly above estimates ranging from $22.14 billion to $22.23 billion, and marking a 5.6% increase from $21.1 billion in the same period last year. UPS's overall volume increased by 7.1%, compared to a 0.1% growth previously. The Non-GAAP operating margin stood at 8.9%. The US domestic margin was 6.7%, exceeding the estimated 5.2%. The company raised its full-year adjusted operating margin guidance to 9.6% from the prior estimate of 9.4%. However, UPS lowered its full-year revenue forecast to approximately $91.1 billion from the previous guidance of $93 billion, citing market conditions. The company maintained its full-year capital expenditure outlook at about $4.0 billion and anticipates dividend payments of around $5.4 billion, subject to board approval. Following the earnings announcement, UPS shares surged, with the stock benefiting from the revenue beat, which was the first in two years.