United Parcel Service’s 2Q17 earnings
As the world’s top express courier service provider, United Parcel Service (UPS) announced its 2Q17 earnings on July 27, 2017. UPS reported EPS (earnings per share) of $1.58 in 2Q17, which surpassed the analyst estimate of $1.45 per share—a 7.9% earnings beat. On a YoY (year-over-year) basis, UPS’s reported EPS of $1.58 was 10.5% higher than its 2Q16 EPS of $1.43.
Outlook for 2H17
According to Richard Peretz, UPS’s CFO, “Second quarter results were in line with our expectations and we are pleased with the progress on our strategic initiatives. Looking at the second half of the year, our core business performance will continue to produce solid results.”
Peretz added, “UPS reaffirms 2017 adjusted diluted EPS guidance to be between $5.80 and $6.10, which includes about $400 million, or $0.30 per share of pre-tax currency headwinds.”
After falling on its earnings day, UPS stock recovered to close up 1.7% at $109.70 per share on July 28, 2017. On the same day, FDX stock rose marginally. Let’s see how UPS’s other peers performed on July 28, 2017:
- C.H. Robinson Worldwide (CHRW): rose 0.3%.
- Expeditors International of Washington (EXPD): rose 0.2%
- Old Dominion Freight Line (ODFL): rose 1.7%.
- YRC Worldwide (YRCW): rose 3.4%
- XPO Logistics (XPO): rose 1.4%
The SPDR Series Trust ETF (XTN) is a broad indicator of the state of the US industrial sector. On July 28, XTN rose 0.6%.
In this post-earnings series on United Parcel Service, we’ll discuss the freight giant’s segmental performance. We’ll also examine analysts’ ratings for UPS after its 2Q17 earnings release.