UPS beats by $0.01, beats on revs; guides FY18 EPS in-line (127.32)
Reports Q4 (Dec) earnings of $1.67 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of $1.66; revenues rose 11.2% year/year to $18.83 bln vs the $18.2 bln Capital IQ Consensus.
Demand for UPS Ground rose in the fourth quarter with volume growth of 5.7% and revenue of 9.3%.
Co issues in-line guidance for FY18, sees EPS of $7.03-7.37, excluding non-recurring items, vs. $7.16 Capital IQ Consensus Estimate. Guidance includes about $200 million of additional pre-tax pension expense due to lower discount rates.
"Our guidance includes TCJA benefits that will increase net income and cash flow. Capital expenditures planned between $6.5 billion to $7.0 billion, mostly dedicated to investments in new technology, aircraft and automated capacity."