UPS Beats Estimates on U.S. Package Volumes, Higher Rates - Bloomberg
United Parcel Service Inc. (UPS), the world’s largest-package delivery company, posted third-quarter earnings that beat analysts’ estimates after carrying more U.S. shipments at higher rates.
While UPS reaped less revenue from each international package, it reported a gain on that basis for domestic parcels along with an increase in U.S. volumes. UPS, considered an economic bellwether because it moves a variety of goods worldwide, projected fourth-quarter growth of 3 percent to 4 percent for daily U.S. shipments and revenue.
“Looking to the fourth quarter, although some major retailers have expressed caution about holiday spending, they still expect robust online sales,” Chief Financial Officer Kurt Kuehn said today in the statement.