United Parcel Service, Inc. (UPS - Free Report) reported first-quarter 2018 earnings per share of $1.55, beating the Zacks Consensus Estimate of $1.54. Earnings increased 17.4% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for UPS depicted a healthy picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for first-quarter earnings being revised 1.3% upward over the last 90 days
Moreover, UPS has an impressive earnings surprise history. The company delivered positive surprises in each of the past four quarters. The average earnings beat was 2.9%.
Revenues Higher Than Expected
UPS recorded revenues of $17,113 million, which surpassed the Zacks Consensus Estimate of $16,443.6 million. Also, it compared favorably with the year-ago number of $15,315 million.
Key Stats to Note:The package delivery company expects 2018 adjusted earnings per share in the band of $7.03 to $7.37. The Zacks Consensus Estimate for 2018 currently stands at $7.22 per share. Free cash flow is anticipated to be between $4.5 billion and $5.0 billion for the year. Meanwhile, effective tax rate is expected in the range of 23-24% for the remainder of the year. Also, the company expects capital expenditures of $6.5 billion-$7.0 billion in 2018.
Zacks Rank: Currently, UPS carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy)stocks here.
Check back later for our full write up on this United Parcel Service earnings report later!
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