UPS beats by $0.13, reports revs in-line; guides FY24 revs below consensus (131.41)
- Reports Q3 (Sep) earnings of $1.76 per share, excluding non-recurring items, $0.13 better than the FactSet Consensus of $1.63; revenues rose 5.4% year/year to $22.2 bln vs the $22.1 bln FactSet Consensus.
- Co issues downside guidance for FY24, sees FY24 revs of ~$91.1 bln vs. $91.77 bln FactSet Consensus.
- For full-year 2024, UPS updates its consolidated revenue and operating margin targets, reflecting actual third-quarter results, the impact of the completed Coyote disposition and the company's outlook for the fourth quarter.
- Lifts consolidated non-GAAP adjusted operating margin expectation to approximately 9.6%
- Capital expenditures of approximately $4.0 billion
- Dividend payments expected to be around $5.4 billion, subject to Board approval