UPS beats by $0.08, misses on revs; reaffirms FY15 EPS guidance
- Reports Q2 (Jun) earnings of $1.35 per share, $0.08 better than the Capital IQ Consensus of $1.27; revenues fell 1.2% year/year to $14.1 bln vs the $14.5 bln consensus.
- All three segments improved operating profit and margin, led by International and Supply Chain and Freight performance. Currency exchange rates and lower fuel surcharges reduced total reported revenue growth. Pricing initiatives continue to drive base rates higher. Total company shipments increased 2.1% over the second quarter last year to 1.1 billion packages, led by U.S. Deferred Air products and International Export shipments.
- US domestic rev +2% to $8.8 bln; operating profit +3% to $.2 bln; daily deliveries +1.8% due to slower pace of B2C growth.
- Co reaffirms guidance for FY15, sees EPS of $5.05-5.30 vs. $5.18 Capital IQ Consensus Estimate.