Even though its most recent quarter’s earnings exceeded expectations, United Parcel Service chose not to change its outlook for the year because of the unpredictability of the macroeconomic climate.
Additionally, the package delivery company revealed that its second-quarter guidance would be revealed during an earnings call later on Tuesday.
The Atlanta company’s net income increased from $1.11 billion, or $1.30 per share, in the previous year to $1.19 billion, or $1.40 per share.
After deducting some one-time expenses, earnings per share were $1.49. According to a FactSet survey, analysts anticipated adjusted earnings of $1.38 per share.
Revenue was over $21.5 billion, up from $21.7 billion in the previous year. According to a FactSet survey, analysts anticipated $21 billion.
UPS reported that while its international segment’s revenue increased due to an increase in average daily volume, its domestic segment’s revenue increased due to an increase in air cargo and an improvement in revenue per piece.
Given the financial instability, UPS’s efforts to reorganize its network and save expenses, according to CEO Carol Tomé, couldn’t come at a better moment.
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SOURCE : UPS Not Updating 2025 Outlook Amid Macro Uncertainty
Daisy Morgan is a dedicated business journalist known for her insightful coverage of global economic trends and corporate developments. With a career rooted in a passion for understanding the intricacies of the business world, Daisy brings a unique perspective to her writing, combining in-depth research with a knack for uncovering compelling stories. Her articles offer readers a comprehensive view of market dynamics, entrepreneurship, and innovation, aiming to inform and inspire professionals and enthusiasts alike.
