United Parcel Service ( NYSE: UPS ) trickled higher in early trading on Tuesday after a mixed Q3 earnings report . While UPS ( UPS ) said the macro environment is very dynamic, the shipping giant noted that it is on track to achieve its 2022 financial targets.
Revenue rose 4.2% Y/Y during the quarter to $24.2B and consolidated operating profit was 7.5% higher to $3.1B.
The U.S. domestic segment saw a 8.2% increase in revenue, driven by revenue per piece being up 9.8% in the U.S. Operating margin for the segment was 11.0%
International segment revenue was up 1.7% with revenue per piece 6.4% higher.
The supply chains solution segment saw a 6.3% decline in revenue.
Looking ahead, UPS ( UPS ) reaffirmed its consolidated financial targets of revenue of around $102B (vs. $101.61B consensus), an adjusted operating margin of about 13.7% and adjusted return on invested capital above 30%. For the year, the company now expects capital expenditures to be around $5B. Dividend payments are expected to be around $5.2B.
Shares of UPS gained 0.30% premarket to $168.05. Rival FedEx ( FDX ) was 0.03 higher to $154.80.
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UPS posts mixed Q3 earnings report, holds full-year guidance