United Parcel Service (NYSE:UPS) earnings for the delivery company’s fourth quarter of 2019 have UPS stock falling on Thursday. That comes after reporting adjusted diluted EPS of $2.11, which is what Wall Street was expecting for the quarter. Unfortunately, its revenue of $20.57 billion couldn’t reach analysts’ estimates of $20.66 billion.
Here’s what else is worth mentioning from the most recent United Parcel Service earnings report.
- Adjusted diluted earnings per share are up 8.76% from $1.94 in the fourth quarter of 2018.
- Revenue for the quarter is sitting 3.63% higher than the $19.85 billion from the same time last year.
- The United Parcel Service earnings report also has net loss coming in at -$106 million.
- That’s worse off than the company’s net income of $453 million from the same period of the year prior.
David Abney, Chairman and CEO of United Parcel Service, says this about the Q4 UPS stock earnings.
“Our network improvements from transformation enabled UPS to embrace a surge in demand for air products while at the same time generate productivity improvements and positive operating leverage. Looking to 2020, we will continue to adapt to the changing environment, strengthen our network and create new solutions to support our strategic growth initiatives and help our customers grow and compete.”
The United Parcel Service earnings report also provides an outlook for the full year of 2020. It has the company expecting adjusted diluted per-share earnings between $7.76 and $8.06. Unfortunately, that doesn’t look so good next to Wall Street’s estimate of $8.07 for the year.
UPS stock was down 6.50% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.