UPS Issues FY24 Guidance

(RTTNews) - UPS (UPS) said, for the full year 2024, it expects revenue to range from approximately $92.0 billion to $94.5 billion and consolidated adjusted operating margin to range from approximately 10.0% to 10.6%. The company is planning capital expenditures of about $4.5 billion and dividend payments of around $5.4 billion.

Fourth quarter consolidated operating profit was $2.5 billion, down 22.5% compared to the fourth quarter of 2022. Earnings per share were $1.87 for the quarter. The company noted that its fourth quarter GAAP results included a total charge of $512 million, or $0.60 per share. Consolidated operating profit declined 27.1% on an adjusted basis. Adjusted earnings per share was $2.47, down 31.8% from the same period in 2022. On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $2.46, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter consolidated revenues were $24.9 billion, a 7.8% decrease from the fourth quarter of 2022. Analysts on average had estimated $25.45 billion in revenue.

UPS will pay a first-quarter dividend of $1.63 per share on all outstanding Class A and Class B shares. The dividend is payable March 8, 2024 to shareowners of record on February 20, 2024.

Shares of UPS are down 4% in pre-market trade on Tuesday.

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