UPS 3Q Earnings

UPS reported third-quarter solid earnings for 2024, beating Wall Street expectations. The company posted adjusted earnings per share of $1.76 and revenue of $22.2 billion, driven by a 6.5% increase in daily U.S. package volume and a 5.8% increase in daily U.S. package revenue. A large portion of the increase in domestic volume comes from Shein and Temu. These gains were also supported by cost controls and steady labor expenses. Despite the positive performance, UPS lowered its full-year revenue outlook to $91.1 billion but raised its full-year adjusted operating margin forecast, reflecting confidence in its operational efficiency.

Today marks the first time in almost two years that UPS returned to posting year-over-year revenue and profit gains.

Source: UPS Releases 3Q 2024 Earnings

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