UPS Reports Higher Profit in Second Quarter
24 Juillet 2019 - 2:11PM
Dow Jones News
By Dave Sebastian
United Parcel Service Inc. posted higher profit in the second
quarter as revenue rose.
The delivery giant reported a profit of $1.69 billion, up 13.5%
from a year earlier. UPS saw earnings of $1.94 a share, up from
$1.71 a share the year before. Analysts polled by FactSet were
expecting $1.92 a share.
On an adjusted basis, UPS said earnings were $1.96 a share,
beating analysts' estimates of $1.93 a share.
Class B shares of the company rose nearly 3% premarket.
Revenue rose 3.4% to $18 billion. Analysts were expecting $17.97
billion.
Domestic-package revenue climbed to $11.15 billion from $10.35
billion a year earlier.
Its international-package revenue for the quarter ended June 30
declined to $3.51 billion from $3.6 billion.
UPS said demand for air services from health-care and retail
customers drove revenue, though network inefficiencies led to a
decline in unit-cost growth for the third consecutive quarter.
The company backed its outlook for adjusted earnings per share
for the year of $7.45 to $7.75.
(END) Dow Jones Newswires
July 24, 2019 07:56 ET (11:56 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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