UPS Earnings Report: Q1 2024 Revenue and Earnings of United Parcel Service Decline
Tuesday, 23 April 2024, 12:46
United Parcel Service Q1 2024 Earnings Overview
United Parcel Service, Inc. (NYSE: UPS) Tuesday reported lower revenues and adjusted profit for the first quarter of 2024. The company reaffirmed its full-year 2024 guidance.
Key Highlights:
- Revenue Decline: The company's revenue dropped by 5% annually to $21.7 billion.
- Profit Decrease: On an adjusted basis, profit declined 35% annually to $1.43 per share.
- Market Performance: US Domestic revenues and International revenues both experienced a decrease of 5% and 6%, respectively.
CEO Carol Tome stated, "Our financial performance in the first quarter was in line with our expectations, and average daily volume in the U.S. showed improvement through the quarter. Looking ahead, we expect to return to volume and revenue growth."
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.