United Parcel Service (UPS - Free Report) reported third-quarter 2019 earnings per share (excluding 6 cents from non-recurring items) of $2.07 per share, surpassing the Zacks Consensus Estimate by a penny. Earnings increased on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for UPS depicted a stable picture prior to the earnings release. The Zacks Consensus Estimate for third-quarter earnings remained stagnant over the past 90 days
Prior to the earnings beat in the third-quarter, the company delivered positive surprises in two of the last four quarters. The average earnings beat was 0.3%.
Revenues Better Than Expected
UPS recorded operating revenues of $18,318 million, which edged past the Zacks Consensus Estimate of $18,303.3 million.
Key Stats to Note: The package delivery company still expects 2019 adjusted earnings per share between $7.45 and $7.75. The Zacks Consensus Estimate for 2019 currently stands at $7.51 per share. Adjusted free cash flow is expected to be more than $4 billion for the current year. Effective tax rate is expected between 22% and 23% for 2019.
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 stocks here.
Check back later for our full write up on this UPS earnings report later!
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