United Parcel Service, Inc. (NYSE:UPS) Q1 2024 Earnings Conference Call April 23, 2024 8:30 AM ET Company Participants PJ Guido - IR Carol Tome - CEO Brian Newman - CFO Nando Cesarone - EVP & President of U.S. and UPS Airline Matt Guffey - EVP & Chief Commercial & Strategy Officer Kate Gutmann - EVP and President of International, Healthcare & Supply Chain Solutions Conference Call Participants Eric Morgan - Barclays Amit Mehrotra - Deutsche Bank Tom Wadewitz - UBS Scott Group - Wolfe Research Ravi Shan ...

United Parcel Service (UPS) reported $21.71 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 5.3%. EPS of $1.43 for the same period compares to $2.20 a year ago.The reported revenue represents a surprise of -1.16% over the Zacks Consensus Estimate of $21.96 billion. With the consensus EPS estimate being $1.33, the EPS surprise was +7.52%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to de ...

Key TakeawaysUnited Parcel Service on Tuesday released first-quarter results that beat adjusted profit estimates but fell short of revenue expectations.The shipping giant affirmed its full-year guidance, projecting revenue of $92.0 billion to $94.5 billion and an adjusted operating margin of 10.0% to 10.6%.UPS and other shipping companies like FedEx have had to adjust as shipping demand and revenue that hit record highs during the pandemic have fallen in recent quarters. United Parcel Service (UPS) on Tuesd ...

Revenue Performance - Total revenue decreased by 5.3% to $21,706 million from $22,925 million year-over-year[1] - U.S. Domestic Package revenue fell by 5.0% to $14,234 million compared to $14,987 million in the previous year[1] - International Package revenue declined by 6.3% to $4,256 million from $4,543 million year-over-year[1] - U.S. Domestic Package revenue was reported at $13,409 million, a slight decrease of 0.8% compared to $13,521 million in the previous year[17] - International Package revenue decreased by 3.1% to $3,600 million from $3,715 million year-over-year[17] Profitability - Operating profit dropped by 36.5% to $1,613 million from $2,541 million in the same quarter last year[1] - Net income decreased by 41.3% to $1,113 million compared to $1,895 million in the prior year[1] - Basic earnings per share fell by 40.9% to $1.30 from $2.20 year-over-year[1] - Operating profit for U.S. Domestic Package was $1,613 million, down 36.5% from $2,541 million in the previous year[17] - Net income for the trailing twelve months ended March 31, 2024, was $5,926 million, a decrease of 45.0% compared to $10,781 million for the same period in 2023[15] - Adjusted operating profit for the trailing twelve months ended March 31, 2024, was $9,068 million, down 30.5% from $13,099 million in the previous year[15] - Net income to average invested capital was 13.2%, down from 23.3% year-over-year[15] - Adjusted Return on Invested Capital (Non-GAAP) was 20.1%, a decline from 28.4% in the prior year[15] Expenses and Costs - Total operating expenses decreased by 1.4% to $20,093 million from $20,384 million[4] - Compensation and benefits increased by 1.5% to $11,639 million compared to $11,464 million in the previous year[4] - Fuel expenses decreased by 16.6% to $1,060 million from $1,271 million year-over-year[4] Cash Flow and Assets - Free cash flow for the three months ended March 31, 2024, was $2,280 million, an increase from $1,770 million in the same period of 2023, reflecting a growth of approximately 28.8%[8] - The company reported a net cash from operating activities of $3,316 million for the three months ended March 31, 2024, compared to $2,357 million for the same period in 2023, an increase of about 40.7%[7] - Total current assets decreased from $19,413 million as of December 31, 2023, to $16,177 million as of March 31, 2024, a decline of approximately 12.0%[6] - Total assets decreased from $70,857 million as of December 31, 2023, to $67,628 million as of March 31, 2024, a reduction of about 4.9%[6] - Total current liabilities decreased from $17,676 million as of December 31, 2023, to $14,696 million as of March 31, 2024, a decline of approximately 16.7%[6] Debt and Leverage - Adjusted total debt as of March 31, 2024, was $26,336 million, compared to $26,790 million as of March 31, 2023, a decrease of about 1.7%[12] - Adjusted total debt to adjusted EBITDA ratio increased from 1.65 as of March 31, 2023, to 2.11 as of March 31, 2024, indicating a higher leverage position[12] - Average debt and finance leases decreased to $21,101 million from $22,035 million, reflecting a reduction of 4.2%[15] Capital Expenditures - Capital expenditures for the three months ended March 31, 2024, were $1,035 million, up from $609 million in the same period of 2023, an increase of approximately 69.8%[8] Fleet Information - The total aircraft fleet as of March 31, 2024, included 294 owned and/or operated aircraft, with an additional 21 on order[19]

ONTARIO, CALIFORNIA - APRIL 01: A UPS truck drives past UPS planes (TOP) on April 1, 2024 in ... [+] Ontario, California. (Photo by Mario Tama/Getty Images)Getty ImagesUnited Parcel Service (NYSE: UPS) is scheduled to report its Q1 2024 results on Tuesday, April 23. We expect UPS to post revenue of $22 billion and earnings of $1.38 on a per-share and adjusted basis, slightly above the street expectations. The company will likely see a tough comparison in Q1, weighing on the overall volume growth as well as ...

 Analyst Estimates for Q1 2024Q4 2023Q1 2023Revenue $21.89 billion$24.92 billion$22.93 billionAdjusted Diluted EPS $1.31$2.47$2.20 Adjusted Net Income $1.12 billion$2.12 billion$1.9 billion Key Metric: Average Daily Volume The package shipping industry at large has suffered in the last year as demand cooled after reaching record highs during the pandemic. Parcel shipping volume rose 0.5% in 2023 compared to the year prior, but total revenue among the major carriers fell for the first time in seven years, ...

Analysts on Wall Street project that United Parcel Service (UPS) will announce quarterly earnings of $1.33 per share in its forthcoming report, representing a decline of 39.6% year over year. Revenues are projected to reach $21.96 billion, declining 4.2% from the same quarter last year.The current level reflects an upward revision of 4% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projec ...

In the latest trading session, United Parcel Service (UPS) closed at $150.57, marking a +0.31% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.15%. Meanwhile, the Dow lost 0.02%, and the Nasdaq, a tech-heavy index, added 0.32%.Shares of the package delivery service witnessed a loss of 3% over the previous month, trailing the performance of the Transportation sector with its loss of 0.64% and the S&P 500's gain of 1.65%.The upcoming earnings release of United Pa ...

An analyst recently took a glass-half-full look at the transportation giant's prospects.Wall Street analysts are divided over UPS (UPS 0.91%). While several of them lowered their price targets on the stock after the company's recent Investor and Analyst Day presentation, Redburn Atlantic analyst Oliver Holmes raised his rating to "buy" from "neutral" with a $180 price target. That would represent an 18% gain from its current price. Let's consider the thinking behind this view.An analyst upgrade for UPSAccor ...

In the latest market close, United Parcel Service (UPS) reached $150, with a -1.49% movement compared to the previous day. This change lagged the S&P 500's daily loss of 1.23%. Elsewhere, the Dow saw a downswing of 1.36%, while the tech-heavy Nasdaq depreciated by 1.4%.The package delivery service's shares have seen a decrease of 0.18% over the last month, not keeping up with the Transportation sector's gain of 1.27% and the S&P 500's gain of 1.61%.The upcoming earnings release of United Parcel Service will ...