UPS Reports Strong Q3 Earnings

Investing.com — United Parcel Service Inc (NYSE:UPS) saw its shares jump over 5% in premarket trading Thursday after announcing third-quarter earnings and revenue that surpassed analyst expectations.

The shipping company posted Q3 earnings per share (EPS) of $1.76, exceeding the consensus estimate of $1.63. Revenue for the quarter reached $22.2 billion, slightly above the expected $22.08 billion.

US package revenue totaled $14.45 billion, reflecting a 5.8% year-over-year increase and surpassing the estimate of $14.34 billion.

International package revenue came in at $4.41 billion, a 3.4% increase from the prior year, though slightly below the anticipated $4.43 billion.

Supply Chain Solutions generated $3.38 billion, an 8% year-over-year growth, but fell short of the $3.45 billion estimate.

CEO Carol Tomé thanked all UPS employees for their dedication, stating, "After a challenging 18-month period, our company returned to revenue and profit growth."

She added, "Peak season is nearly upon us, and we are ready to deliver another successful holiday season and continue the progress we demonstrated in the third quarter."

For full-year 2024, UPS forecasts revenue of $91.1 billion, lower than the consensus estimate of $91.85 billion. Furthermore, it raised its consolidated non-GAAP adjusted operating margin outlook to approximately 9.6%.