UPS had another strong quarter with shipments to homes continuing at a blistering pace, though revenue at home was a little weaker than some had expected
ByThe Associated Press
July 27, 2021, 10:57 AM
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ATLANTA -- UPS had another strong quarter with shipments to homes continuing at a brisk pace, though revenue at home, its biggest market, was a little weaker than some had expected.
Shares slipped about 1% before the opening bell Tuesday.
Domestic revenue still grew 10.2% to $14.40 billion in the second quarter, with per-piece revenue rising 13.4%. However, Wall Street had projected domestic revenue of $14.76 billion. Revenue from international operations spiked 30% to $4.82 billion, which was better than the $4.57 billion analysts had expected.
For the three months ended June 30, United Parcel Service Inc. earned $2.68 billion, or $3.05 per share. Stripping out one-time costs, earnings were $3.06 per share, easily beating the $2.75 that Wall Street was looking for.
A year earlier the Atlanta company earned $1.77 billion, or $2.03 per share.
Overall revenue was $23.42 billion, also better than expected.