UPS reported a resilient first quarter in 2024, with both earnings and revenue surpassing Wall Street estimates, despite a YoY decline. The company's stock responded positively, rising 2.5% as investors welcomed the better-than-expected results.
CEO Carol Tomé expressed satisfaction with the company's performance, stating, "Our financial performance in the first quarter was in line with our expectations, and average daily volume in the U.S. showed improvement through the quarter. Looking ahead, we expect to return to volume and revenue growth."
Looking forward, UPS reaffirmed its full-year 2024 financial guidance, expecting consolidated revenue to range from approximately $92.0 billion to $94.5 billion, with the midpoint slightly below the analysts' consensus of $93.03 billion. The company anticipates a consolidated adjusted operating margin between 10.0% and 10.6%, with capital expenditures around $4.5 billion.
UPS's ability to outperform analysts' expectations for adjusted EPS and revenue amid a challenging economic environment underscores the company's operational resilience and has instilled a renewed sense of optimism among investors.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.