UPS Earnings Modestly Beats Estimates

Business Insider

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UPS announced Q3 earnings of $1.16 per share, modestly beating expectations of $1.15.

The company reported Q3 revenue of $13.52 billion, this modestly missed expectations for $13.59 billion.

Revenue was boosted by U.S. e-commerce shipments and strong European export growth.

UPS delivered over 1 billion packages in the third quarter, up 4.6% year-over-year.

The company reported that many retailers expected caution about holiday spending, but expect "robust online sales."

CFO Kurt Kuehn reiterated his full-year guidance of adjusted diluted earnings per share of $4.65 - $4.85.

UPS is widely considered a reliable indicator of economic activity.



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