Pre-reports

Discussion in 'UPS Discussions' started by moreluck, Apr 14, 2010.

  1. moreluck

    moreluck golden ticket member

    Wednesday, April 14, 2010

    UPS Pre-Announces Street-Beating 1Q Earnings, Strong Outlook

    By Kathryn Glass

    FOXBusiness



    The United Parcel Service (UPS: 65.44, 0.56, 0.86%) pre-announced earnings that significantly topped expectations, prompting the shipping company to hike its forecast for the fiscal year. The news sent shares of the up more than 3% after the market closed.
    The economic bellwether sees fiscal 2010 non-GAAP earnings in the range of $3.05 to $3.30 a share. The company had previously forecast a range of $2.70 to $3.05 a share.
    Analysts polled by Thomson Reuters had expected adjusted fiscal 2010 earnings of $2.95 a share, well below the company’s adjusted range.
    In the first quarter, UPS said it earned 53 cents per share, with adjusted earnings per share rising to 71 cents a share, compared to year-ago non-GAAP earnings of 52 cents per share.
    The company said consolidated revenue in the first quarter was up 7%.
    The results topped expectations; the Street was expecting earnings of 58 cents a share on revenue of $11.56 billion, which is an increase of 5.6% over last year’s first quarter sales of $10.94 billion.
    "We expected the first quarter to be the most challenging of 2010 as the economic recovery gathered steam through the year," said Kurt Kuehn, UPS's , in a press release. "As it turned out, revenue was stronger than we expected due to international volume gains, increased yields in the U.S. And growth in Forwarding and Logistics. Also, the operating leverage in our streamlined network provided higher margins than anticipated."
    Shares of UPS rose 57 cents or 0.9%, in Wednesday' session to close at $65.45 a share. The stock was up another $2.30 or 3.51% in after-hours trading.
     
  2. helenofcalifornia

    helenofcalifornia Well-Known Member

    You know how they got those results don't you, More? We couldn't order new uniforms. Glad I own shares, but still wish I could get some new non-ink stained, thread bare uniforms. Maybe in the near future if the economy keeps responding. I do see some growth in shipping, a little, not massive amounts.
     
  3. brownmonster

    brownmonster Man of Great Wisdom

    I thought we were simply UPS, not "The United Parcel Service". Sounds like one of those Chinese articles.
     
  4. Monkey Butt

    Monkey Butt You can call me Chappy Staff Member

    Faux-Chinese.