Company news: UPS’s (UPS) quarterly results miss analysts’ estimates

UPS (UPS) reported Q2 FY2024 earnings of $1.79 per share (versus $2.54 per share in Q2 FY2023), missing analysts’ consensus estimate of $1.99 per share.

The company’s quarterly revenues amounted to $21.818 bln (-1.1% y/y), missing analysts’ consensus estimate of $22.166 bln.

The company also issued upside guidance for FY2024, seeing FY24 revenues of approx. $93.0 bln, up from its prior guidance of $92.0-$94.5 bln versus analysts’ consensus estimate of $92.77 bln.

In addition, UPS restarted its share buyback program, targeting $1 bln in annual repurchases.

UPS fell to $134.90 (-7.08%) in pre-market trading.