UPS (NYSE:UPS) earnings for the delivery company’s third quarter of 2019 have UPS stock going downhill on Tuesday. This comes despite its adjusted per-share earnings of $2.07, which beats Wall Street’s estimate of $2.06. Revenue of $18.31 billion may be partially to blame. This is below analysts’ revenue estimate of $18.35 billion for the quarter.
Now for a look at some of the finer details from the UPS earnings report.
- Adjusted EPS for the quarter is up 13.74% YoY from $1.82.
- Revenue comes in 5.05% higher than $17.44 billion from the same time last year.
- The UPS earnings report also includes an operating profit of $2.13 billion.
- This is roughly 23% better than operating profit from the third quarter of 2018.
- Net income of $1.75 billion is a 15.89% increase from $1.51 billion in the same period of the year prior.
David Abney, Chairman and CEO of UPS, said the following about the UPS stock earnings.
“Our results reflect significant progress from our transformation initiatives, and our ability to generate growth and deliver increased efficiencies in a dynamic economic environment.”
The USP earnings report also has it reaffirming its 2019 adjusted earnings per share outlook range of $7.45 to $7.75. Wall Street is estimating adjusted EPS of $7.51 for the year.
It’s also worth mentioning that a retirement announcement comes alongside the UPS earnings report today. The company says that COO Jim Barber is retiring at the end of the year. Barber has been with the company for 35 years and rose through the ranks after starting as a delivery driver.
UPS stock was down 2.81% as of Tuesday afternoon. However, it’s up 21.92% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.
