UPS Profit And Revenue Rise Above Expectations
United Parcel Service Inc. reported first-quarter net earnings that rose to $1.16 billion, or $1.32 a share, from $1.13 billion, or $1.27 a share, in the same period a year ago. That beat the FactSet consensus of $1.29 a share. Revenue increased 6.2% to $15.32 billion from $14.42 billion, above the FactSet consensus of $15.17 billion. Domestic package revenue rose 5.0% to $9.54 billion, international package revenue grew 4.9% to $3.06 billion and supply chain & freight revenue increased 12.5% to $2.72 billion. The package delivery giant affirmed its 2017 EPS outlook of $5.80 to $6.10. "First quarter results continue to show the benefit of our operating plan improvements across all business units," said Chief Financial Officer Richard Peretz. "Our current momentum, combined with accelerated investment initiatives gives us confidence in our ability to attain our full-year guidance." The stock, which was still inactive in premarket trade, has dropped 6.1% year to date, while the Dow Jones Transportation Average has tacked on 1.4% and the S&P 500 has gained 6.6%.
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