“In the prior-year period, the company’s GAAP results included $0.40 per diluted share related to mark-to-market pension charges and benefits from the Tax Cuts and Jobs Act,” read the company statement.
Despite heavy expenses, the major operating statistics for UPS looked promising. Average daily package volume rose 3%, while average revenue per piece rose 4.1%. Both metrics saw growth in both US and international segments.
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LOOKING FORWARD
UPS now expects total adjusted operating profit growth in the low-teens with all segments up double-digits in 2019. Including pension financing costs headwinds of about $325 million, the parcel giant now sees adjusted EPS at $7.45-7.75 per share.