- UPS (NYSE:UPS) shows an increase of 11.2% in revenue during the holiday quarter, driven higher by a 21% jump in revenue for the supply chain/freight segment.
- Operating profit didn't quite keep up with the pace of revenue growth, moving up 3.2% to $2.294B.
- Revenue in the U.S. Domestic segment was up 8.4% to $922M. Revenue per piece increased 9.2% as higher pricing factored in. A surge in shipments around the holidays added extra operating costs of $125M.
- Revenue in the international segment rose 13% to $3.753B.
- CEO update: "We made significant progress on key capacity investments in 2017. Our momentum, transformative actions and the economic catalyst from the Tax Cuts and Jobs Act, position UPS for growth in 2018 and beyond. We expect to unlock significant resources, which will be available for accelerated investments in our network and create additional opportunities for our people."
- UPS expects full-year EPS of $7.07 to $7.37 vs. $7.17 consensus.
- UPS -1.82% premarket to $125.00.
- Previously: United Parcel Service beats by $0.01, beats on revenue (Feb. 1)
- Now read: Market Celebrated Rate Hike - Cramer's Mad Money (12/13/17)
Original article