United Parcel Service on Tuesday reported third-quarter results that beat Wall Street expectations and raised its full-year guidance.
The guidance raise comes after the company already upped its outlook last quarter
UPS now said it’s projecting full-year consolidated revenue of approximately $92.6 billion, up from its previous expectations of $91.2 billion, as well as fourth-quarter revenue of $25.7 billion. Shares of UPS rose slightly in premarket trading. Here’s how the company performed in its third quarter, compared with what Wall Street was expecting, based on a survey of analysts by LSEG: – Earnings per share: $1.69 adjusted vs. $1.63 expected – Revenue: $22.9 billion vs. $22.29 billion expected For the quarter ended Sept. 30, UPS reported net income of $1.16 billion, or $1.37 per share, down slightly from net income of $1.31 billion, or $1.55, the year prior.
Adjusting for one-time expenses, UPS reported earnings per share of $1.69. In its domestic segment, the company said it saw a 4.5% increase in revenue, while its international segment saw a 7.1% rise in revenue. Its supply chain solutions business saw an 18.2% revenue increase, which UPS said was primarily driven to growth in forwarding and logistics, including healthcare.