UPS beats earnings expectations, raises full-year guidance
📰 source: cnbc_topnews · 💼 business
ups beat wall street earnings expectations for its second quarter, with adjusted eps of $1.76 versus the $1.66 estimate. revenue came in at $22.8 billion, above the expected $21.81 billion. the company also raised its full-year guidance, now expecting consolidated revenue of $91.2 billion and adjusted diluted eps of about $7.22. shares rose slightly in premarket trading.
net income fell to $604 million from $1.28 billion a year ago, but adjusted profit grew. ceo carol tomé called the results a "significant shift" and cited momentum heading into the second half. ups saw domestic revenue up 6%, international up 12.5%, and supply chain solutions up 7.8%, partly from healthcare logistics.
the company's network reconfiguration program has delivered about $1.2 billion in benefits so far, targeting $3 billion by year end. ups is in a turnaround focused on automation and healthcare logistics.
why it matters: ups beat expectations and raised guidance, indicating the delivery giant's turnaround strategy is gaining traction and reflecting broader logistics demand.
source: cnbc_topnews
sentiment: +0.60 · impact: 0.60