UPS Reports In-line Earnings, Reaffirms Guidance

Shares of United Postal Service were down less than 1% in pre-market trade Friday after the company reported in-line second-quarter earnings. The company reported net income of $1.27 billion, or $1.43 a share, up from $1.23 billion, or $1.35 a share, in the year-earlier period. The FactSet consensus was for earnings per share of $1.43. Revenue was $14.6 billion, up from $14.1 billion in the year-earlier period and in line with the FactSet consensus of $14.6 billion. UPS reiterated its full year EPS guidance of $5.70 to $5.90, compared to the FactSet consensus of $5.80. Shares have gained 3.5% in the past three months, compared to the S&P 500's gain of 5%.