2023-08-08 06:02:42 ET
- UPS press release ( NYSE: UPS ): Q2 Non-GAAP EPS of $2.54 beats by $0.04 .
- Revenue of $22.1B (-10.9% Y/Y) misses by $1.02B .
- Outlook: UPS is updating its full-year 2023 consolidated revenue and adjusted operating margin targets primarily to reflect the volume impact from labor negotiations and the costs associated with the tentative agreement reached with the International Brotherhood of Teamsters on July 25, 2023. UPS now expects full-year 2023 consolidated revenue to be about $93 billion vs. consensus of $96.59 billion and an adjusted operating margin of around 11.8%.
The company is reaffirming its capital allocation plans and expects capital expenditures to be about $5.3 billion, dividend payments to be around $5.4 billion, subject to board approval, and share repurchases to be around $3 billion.
For further details see:
UPS reports mixed Q2 earnings; narrows FY23 revenueoutlook