United Parcel Service Meets Street Forecasts on Q3 EPS, Beats on Revenues; Reaffirms Outlook

Package delivery company United Parcel Service (UPS) reported Q3 earnings per share of $1.44, up from $1.39 in the same period last year, and matching the Capital IQ consensus forecast.

UPS was lower 1% recently.

Revenues for the quarter were $14.93 billion, up from $14.24 billion in the year-ago period, and ahead of the analyst forecast of $14.72 billion.

The company said maintained its adjusted earnings guidance for full-year 2016 at $5.70 to $5.90 per diluted share, straddling the $5.81 per share consensus. UPS will host a conference call at 8:30 a.m. ET, Oct. 27, 2016 to discuss the results.

Separately, UPS said it is planning for “record seasonal global delivery volume,” up more than 14% above the peak delivery period last year.

The company said it is benefitting from two additional delivery days during 2016. It expects to surpass 700 million packages delivered globally in 25 days between Thanksgiving and New Year’s Eve.

By Marvin Goff