UPS stock is down on Wednesday after releasing its earnings report for the third quarter of 2018.
UPS (NYSE:UPS) reported earnings per share of $1.84 for the third quarter of the year. This is better than the company’s earnings per share of $1.44 from the same period of the year prior. It also comes in above Wall Street’s earnings per share estimate of $1.82 for the quarter, but couldn’t save UPS stock from falling.
Net income reported by UPS for the third quarter of 2018 came in at $1.51 billion. This is an increase over the company’s net income of $1.26 billion that was reported in the third quarter of 2017.
UPS’ operating profit for the third quarter of the year was $1.73 billion. The delivery company reported operating profit of $1.81 billion during the same period of the year prior.
During the third quarter of 2018, UPS reported revenue of $17.44 billion. This is up from the company’s revenue of $16.17 billion reported in the third quarter of the previous year. However, it isn’t good news for UPS stock by coming in below analysts’ revenue estimate of $17.49 billion for the period.
While the revenue miss for the third quarter of the year likely isn’t doing UPS stock any favors, it may not be the biggest factor affecting the stock. Instead, it is much more likely that investors have concerns about the possibility of an upcoming trade war between the U.S. and China hurting the business.
UPS stock was down 3% as of noon Wednesday and is down 7% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
