2024

United

Billion

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<p class="has-drop-cap">United Parcel Service, Inc. (NYSE: UPS) <a href="https://investors.ups.com/news-events/press-releases/detail/2131/ups-releases-3q-2024-earnings" target="_blank" aria-label="reported (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">reported</a> its third-quarter 2024 results, showcasing a significant recovery from previous periods. The company’s consolidated revenues reached $22.2 billion, marking a 5.6% increase from the same quarter in 2023. This growth was driven by improvements across various business segments, including U.S. Domestic, International, and Supply Chain Solutions.</p>
<p>Consolidated operating profit surged to $2.0 billion, representing a 47.8% increase from the prior year. On a non-GAAP adjusted basis, the operating profit rose by 22.8%, highlighting the company’s focus on operational efficiency and strategic growth initiatives.</p>
<p>Diluted <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">earnings per share (EPS)</a> for the quarter stood at $1.80, with a non-GAAP adjusted EPS of $1.76, reflecting a 12.1% increase from the third quarter of 2023. This performance was bolstered by a $152 million gain from the divestiture of the Coyote Logistics business, offset by transformation strategy costs.</p>
<p>CEO Carol Tomé emphasized the company’s return to revenue and profit growth after a challenging 18-month period, expressing readiness for the upcoming peak season and continued progress.</p>
<h3 id="ups-beats-market-expectations-in-third-quarter-of-2024">UPS Beats Market Expectations in Third Quarter of 2024</h3>
<p>UPS’s third-quarter results exceeded market expectations, which had projected an EPS of $1.63 and revenues of $22.08 billion. The actual EPS of $1.80 and revenues of $22.2 billion surpassed these forecasts, underscoring the company’s strong operational performance and effective cost management strategies.</p>
<p>This outperformance was primarily driven by increased average daily volume in the U.S. Domestic segment and a rise in revenue per piece in the International segment.</p>
<p>The U.S. Domestic segment reported a 5.8% increase in revenue, attributed to a 6.5% increase in average daily volume. The operating margin for this segment was 6.2%, with a non-GAAP adjusted operating margin of 6.7%.</p>
<p>The International segment also showed positive results, with a 3.4% revenue increase and an operating margin of 18.1%. In the Supply Chain Solutions segment, revenue grew by 8.0%, driven by air and ocean forwarding growth. The segment’s operating margin was 8.5%, with a non-GAAP adjusted operating margin of 6.4%.</p>
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<h3 id="ups-updates-full-year-2024-guidance">UPS Updates Full Year 2024 Guidance</h3>
<p>UPS has updated its financial guidance for the full year 2024, factoring in the completed divestiture of Coyote Logistics and the third-quarter results. The company now expects consolidated revenue to be approximately $91.1 billion, reflecting its optimistic outlook for the remainder of the year.</p>
<p>Additionally, UPS has revised its non-GAAP adjusted operating margin expectation to approximately 9.6%, indicating a focus on maintaining profitability through strategic initiatives.</p>
<p>Capital expenditures for the year are projected to be around $4.0 billion, with <a href="https://tokenist.com/investing/stocks-that-pay-dividends/" rel="noopener noreferrer nofollow" class="deco-link">dividend payments</a> expected to reach approximately $5.4 billion, subject to board approval. UPS remains committed to its strategic priorities, focusing on customer service, employee engagement, and innovation.</p>
<p>The company anticipates a successful holiday season and is well-prepared to meet the demands of peak shipping periods, leveraging its extensive logistics network and operational capabilities.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/ups-exceeds-expectations-with-22-2-billion-in-q3-2024-revenue/">UPS Exceeds Expectations with $22.2 Billion in Q3 2024 Revenue</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

UPS Exceeds Expectations with $22.2 Billion in Q3 2024 Revenue

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