Categories AlphaGraphs, Earnings, Industrials

Earnings: UPS Q1 2022 profit beats estimates; revenue up 6%

Freight forwarding company United Parcel Service, Inc. (NYSE: UPS) Tuesday reported a 6% increase in first-quarter revenues, aided by strong e-commerce demand. The positive top-line performance translated into double-digit growth in adjusted earnings, which also topped expectations.

Net profit, adjusted for non-recurring items, increased to $3.05 per share in the first quarter from $2.77 per share in the same period of 2021 and came in above analysts’ forecast. Unadjusted net income was $2.66 billion or $3.03 per share, compared to $4.79 billion or $5.47 per share last year.

Total revenues increased 6.4% year-over-year to $24.4 billion. Analysts were looking for slower growth. All the three operating segments registered growth.

Check this space to read management/analysts’ comments on UPS’ Q1 2022 earnings

“I want to thank all UPSers for their outstanding efforts during a challenging first quarter to serve the needs of our customers. The agility of our network and the continued execution of our strategy delivered another quarter of strong financial performance, putting us on our way to achieving our 2022 consolidated financial targets,” said Carol Tome, chief executive officer of UPS.

Prior Performance

  • UPS Q2 2021 earnings

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

Cost reduction has become a priority for FedEx (FDX) after a challenging quarter

Shares of FedEx Corporation (NYSE: FDX) were up 1% on Tuesday. The stock has dropped 44% year-to-date and 34% over the past 12 months. The company delivered mixed results for

Prime Medicine is the next big biotech to pursue IPO. Here’s all you need to know

After a soft start to the year, the IPO market has witnessed muted activity so far though a few big companies entered the stock market. On the heels of AIG

Stock Watch: Is Darden Restaurants a good buy after earnings?

After a prolonged slowdown, the restaurant industry is returning to normal patterns but macroeconomic uncertainties and high inflation are currently playing spoilsport for it. While the pandemic-related slump forced many

Add Comment
Viewing Highlight