Source: Sharecast
UPS reported Q225 revenues of $21.2bn, slightly ahead of estimates of $21.2bn, while adjusted earnings per share of $1.55 were just shy of the $1.57 per share expected on the Street. Operating profits were $1.9bn on a non-GAAP basis, reflecting ongoing cost pressures and transformation charges.
The Kentucky-based group said its US domestic segment saw a slight revenue dip of 0.8% due to lower volume, while international revenues grew 2.6% on stronger daily volume. Supply chain solutions revenues dropped 18.3%, hit by UPS' divestiture of Coyote.
UPS reaffirmed its FY cost savings target of $3.5bn through network reconfiguration and its "Efficiency Reimagined" program, noting that it plans to spend $3.5bn in capex.
UPS also opted not to provide any updated revenue or profit guidance, citing ongoing macroeconomic uncertainty.
As of 1425 BST, UPS shares were down 2.79% in pre-market trading at $98.75 each.
Reporting by Iain Gilbert at Sharecast.com