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United Parcel Service | 8-K: Third Quarter 2024 Earnings Report

SEC ·  Oct 24, 2024 18:09

Summary by Futu AI

UPS reported Q3 2024 consolidated revenues of $22.2B, up 5.6% YoY, with operating profit increasing 47.8% to $2.0B. Non-GAAP adjusted diluted earnings per share rose 12.1% to $1.76. The U.S. Domestic segment saw revenue growth of 5.8%, driven by a 6.5% increase in average daily volume.The International segment's revenue grew 3.4% with an 18.1% operating margin, while Supply Chain Solutions revenue increased 8.0%. The company completed the disposition of Coyote Logistics during the quarter, impacting its financial outlook. UPS also announced the successful implementation of its transformation strategy initiatives.For full-year 2024, UPS updated its guidance, expecting consolidated revenue of approximately $91.1B and lifting its consolidated non-GAAP adjusted operating margin to approximately 9.6%. Capital expenditures are projected at $4.0B, with dividend payments around $5.4B, subject to Board approval.
UPS reported Q3 2024 consolidated revenues of $22.2B, up 5.6% YoY, with operating profit increasing 47.8% to $2.0B. Non-GAAP adjusted diluted earnings per share rose 12.1% to $1.76. The U.S. Domestic segment saw revenue growth of 5.8%, driven by a 6.5% increase in average daily volume.The International segment's revenue grew 3.4% with an 18.1% operating margin, while Supply Chain Solutions revenue increased 8.0%. The company completed the disposition of Coyote Logistics during the quarter, impacting its financial outlook. UPS also announced the successful implementation of its transformation strategy initiatives.For full-year 2024, UPS updated its guidance, expecting consolidated revenue of approximately $91.1B and lifting its consolidated non-GAAP adjusted operating margin to approximately 9.6%. Capital expenditures are projected at $4.0B, with dividend payments around $5.4B, subject to Board approval.

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