Categories Earnings, Industrials

United Parcel reports in-line EPS for Q4; revenues miss mark

United Parcel Service Inc. (UPS) (NYSE: UPS) reported adjusted EPS that matched expectations for the fourth quarter of 2019 while revenues fell short of estimates. Shares were down 0.83% in premarket hours on Thursday.

Total revenue rose 3.6% year-over-year to $20.56 billion, driven by strong average daily volume growth during the peak holiday season. The topline results, however, fell below estimates of $20.66 billion.  

UPS reports Q4 2019 earnings results

On a GAAP basis, the company reported a net loss of $106 million, or $0.12 per share, compared to a net income of $453 million, or $0.52 per share, in the prior-year period. The results included mark-to-market pension charges, transformation charges and legal expenses related to the New York cigarette case. Excluding the aforementioned charges, earnings grew 8.8% to $2.11 per share, in line with forecasts.  

During the quarter, average daily volume levels exceeded 26.6 million packages, up 7.5%, driven by high demand for air services in the US.

Also read: Altria Q4 2019 Earnings Snapshot

In the US Domestic segment, revenues increased 6.5% to $13.4 billion, with growth across all products. Total volume across all products grew around 9%. Unit costs decreased 2.1%.

Revenues in the International segment amounted to $3.7 billion. Export volume dipped slightly as gains on intra-Europe, intra-Asia and US export trade lanes did not fully offset the declines into and out of the UK and on the Asia-US lane.  

In the Supply Chain and Freight segment, revenues totaled $3.3 billion, with growth in Logistics, Marken and UPS Freight.  

Adjusted EPS is expected to come in a range of $7.76 to $8.06 for fiscal year 2020. Capital expenditures are estimated to be around $6.7 billion.

Also Read:  TrueBlue Inc (TBI) Q2 2020 Earnings Call Transcript

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

3D Systems Corp. (DDD) Q2 2020 Earnings Call Transcript

3D Systems Corp. (NYSE: DDD) Q2 2020 earnings call dated Aug. 05, 2020 Corporate Participants: Jessica Stansell -- Investor Relations Jeffrey A. Graves -- Chief Executive Officer And President Wayne Pensky -- Interim Chief Financial Officer Analysts:

Yelp (YELP): Revenue recovery depends significantly on COVID-19 environment

Shares of Yelp (NYSE: YELP) were down over 15% on Friday, a day after the company reported a decline in revenue along with a net loss for the second quarter

US economy adds 1.8 million jobs in July; unemployment rate drops to 10.2%

The US economy added 1.8 million jobs in July, marking the third consecutive month of employment growth as the country recovers from the coronavirus pandemic that has caused widespread disruption.

One thought on “United Parcel reports in-line EPS for Q4; revenues miss mark

Comments are closed.

Top