S&P 500 (NYSE:SPY) component United Parcel Service, Inc. (NYSE:UPS) reported its results for the second quarter. United Parcel Service, Inc. offers services in the package and freight delivery industry. It operates through three segments: International Package, U.S. Domestic Package and Supply Chain and Freight.
United Parcel Service Earnings Cheat Sheet for the Second Quarter
Results: Net income for the air delivery and freight services company rose to $1.06 billion ($1.07 per share) vs. $845 million (84 cents per share) in the same quarter a year earlier. This marks a rise of 25.8% from the year earlier quarter.
Revenue: Rose 8.1% to $13.19 billion from the year earlier quarter.
Actual vs. Wall St. Expectations: UPS reported adjusted net income of $1.05 per share. By that measure, the company was about in line with expectations as the mean analyst estimate was $1.04 per share. Analysts were expecting revenue of $13.13 billion.
Quoting Management: “UPS’s results reflect the continued execution of our strategy and the ability to grow earnings in an uneven economic environment,” said Scott Davis, UPS chairman and CEO. “Customers are recognizing the value of the integrated solutions that leverage UPS capabilities around the globe and across the entire supply chain.”
The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 66% and in the fourth quarter of the last fiscal year, the figure rose 47.8%.
The company has now topped analyst estimates for the last four quarters. It beat the mark by 3 cents in the first quarter, by 3 cents in the fourth quarter of the last fiscal year, and by 6 cents in the third quarter of the last fiscal year.
Revenue has risen the past four quarters. Revenue increased 7.3% to $12.58 billion in the first quarter. The figure rose 8.4% in the fourth quarter of the last fiscal year from the year earlier and climbed 9.3% in the third quarter of the last fiscal year from the year-ago quarter.
(Source: Xignite Financials)