UPS Earnings Modestly Beats Estimates

UPS announced
Q3 earnings of $US1.16 per share, modestly beating expectations of $US1.15.
The company reported Q3 revenue of $US13.52 billion, this modestly missed expectations for $US13.59 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 $US4.65 – $US4.85.

UPS is widely considered a reliable indicator of economic activity.

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