{"id":209451,"date":"2024-07-23T09:45:00","date_gmt":"2024-07-23T13:45:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=209451"},"modified":"2024-07-29T16:32:03","modified_gmt":"2024-07-29T20:32:03","slug":"ups-q2-earnings-revenue-and-eps-miss-annual-outlook-cut-restarts-stock-buyback","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/stocks\/ups-q2-earnings-revenue-and-eps-miss-annual-outlook-cut-restarts-stock-buyback\/","title":{"rendered":"UPS Q2 Earnings: Revenue And EPS Miss, Annual Outlook Cut, Restarts Stock Buyback"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-zinger-key-points\">ZINGER KEY POINTS<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Q2 Revenue declined 1.1% year-over-year to $21.82 billion, missing the consensus of $22.183 billion.<\/li>\n\n\n\n<li>UPS announced the acquisition of Estafeta to leverage Mexico&#8217;s manufacturing boom and enhance global logistics.<\/li>\n<\/ul>\n\n\n\n<p><strong>United Parcel Service Inc<\/strong>\u00a0are trading lower after it\u00a0<a href=\"https:\/\/www.benzinga.com\/pressreleases\/24\/07\/b39900742\/ups-releases-2q-2024-earnings\" target=\"_blank\" rel=\"noreferrer noopener\">reported second-quarter 2024 results<\/a>.<\/p>\n\n\n\n<p>Revenue declined 1.1% year-over-year to $21.82 billion, missing the consensus of $22.183 billion. Adjusted EPS was $1.79, down 29.5% YoY,&nbsp;<a href=\"https:\/\/www.benzinga.com\/earnings\" target=\"_blank\" rel=\"noreferrer noopener\">missing the consensus of $1.99.<\/a><\/p>\n\n\n\n<p>Consolidated operating profit fell 30.1% YoY to $1.9 billion; consolidated operating margin stood at 8.9%, while adjusted consolidated operating margin was 9.5%.<\/p>\n\n\n\n<p>U.S. Domestic Segment revenue fell 1.9% YoY to $14.12 billion, reflecting a 2.6% decrease in revenue per piece due to changes in product mix. The adjusted operating margin stood at 7.1%.<\/p>\n\n\n\n<p>International Segment revenue decreased by 1% YoY to $4.37 billion, owing to a 2.9% decrease in average daily volume. The adjusted operating margin was 18.9%.<\/p>\n\n\n\n<p>Supply Chain Solutions Segment revenue increased by 2.6% to $3.33 billion, reflecting growth in logistics, including healthcare. The adjusted operating margin was 7.3%.<\/p>\n\n\n\n<p>UPS\u2019 operating cash flow for six months ended June 30, 2024, totaled $5.309 billion, and free cash flow was $3.365 billion.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-2024-outlook-updated\"><strong>2024 Outlook, updated:<\/strong>\u00a0<\/h2>\n\n\n\n<p>UPS now expects revenue of ~$93 billion (prior $92 billion-$94.5 billion) versus the $92.794 billion consensus and sees an adjusted operating margin of 9.4% (prior 10%-10.6%).<\/p>\n\n\n\n<p>UPS expects 2024 capital expenditures of about $4 billion.<\/p>\n\n\n\n<p>The company restarted its repurchase program, targeting around $1 billion annually.<\/p>\n\n\n\n<p>Yesterday, UPS announced the acquisition of Estafeta, a Mexican express delivery company, to leverage Mexico\u2019s manufacturing boom, global supply chain&nbsp;<a target=\"_blank\" href=\"https:\/\/www.benzinga.com\/pressreleases\/24\/07\/b39893144\/ups-to-acquire-estafeta-providing-powerful-global-logistics-solutions-and-trade-opportunities-for-\" rel=\"noreferrer noopener\">shifts, and North American trade growth.<\/a>&nbsp;This move aligns with UPS\u2019s strategy to enhance its global logistics capabilities, providing seamless service and greater efficiency.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-price-action\"><strong>Price Action:<\/strong>\u00a0<\/h2>\n\n\n\n<p>UPS shares are trading lower by 7.77% at $133.90 premarket at the last check on Tuesday.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p><a href=\"https:\/\/www.benzinga.com\/news\/earnings\/24\/07\/39903596\/ups-q2-earnings-revenue-and-eps-miss-annual-outlook-cut-restarts-stock-buyback\">UPS Q2 Earnings: Revenue And EPS Miss, Annual Outlook Cut, Restarts Stock Buyback<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>United Parcel Service Inc\u00a0are trading lower after it\u00a0reported second-quarter 2024 results.<\/p>\n","protected":false},"author":1402,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[6,8,9,22,26,3],"tags":[267,591,5012,7084],"contributors-categories":[13584],"class_list":{"0":"post-209451","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-north-america","7":"category-region","8":"category-securities","9":"category-stocks","10":"category-text-articles","11":"category-traders-insight","12":"tag-earnings","13":"tag-outlook","14":"tag-stock-buybacks","15":"tag-ups","16":"contributors-categories-benzinga"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>UPS Q2 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