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UNITED PARCEL SERVICE

(UPS)
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United Parcel Service : UPS Reports Drop in Profit, Says Weather Hurt Results in the U.S.

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04/25/2019 | 07:59am EDT

By Allison Prang

Profit at United Parcel Service Inc. fell in the first quarter as revenue stayed about the same from the comparable quarter a year earlier and weather conditions hurt results in the U.S.

The delivery giant reported profit of $1.11 billion, down 17% compared with the first quarter a year earlier. UPS saw earnings of $1.28 a share, down from $1.55 a share. Analysts polled by Refinitiv were expecting $1.41 a share.

On an adjusted basis, UPS said earnings were $1.39 a share. That still missed analysts' estimates of $1.41 a share.

Revenue rose 0.3% to $17.16 billion. Analysts were expecting $17.78 billion.

Operating profit declined 12% in its U.S. division. UPS said domestic operating profit had a $80 million hit from bad weather during the quarter.

The company said it expects total operating profit to increase in the second quarter of this year but for adjusted earnings to be relatively unchanged from the year-earlier quarter. UPS reaffirmed its adjusted earnings guidance for the year of between $7.45 and $7.75 a share.

UPS also said it is going to open about 30% of its planned capacity for this year in the current quarter and that costs from that will affect results for the quarter.

At the end of January, UPS had said it expected adjusted operating profit for the year to increase in the low teens. It expected that metric to rise in the double digits across segments. On the company's last earnings call, Chief Financial Officer Richard Peretz had said 2019 was going to be a "pivot point" for the company.

Write to Allison Prang at allison.prang@wsj.com

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Financials (USD)
Sales 2019 74 410 M
EBIT 2019 8 219 M
Net income 2019 6 419 M
Debt 2019 18 656 M
Yield 2019 3,13%
P/E ratio 2019 16,3x
P/E ratio 2020 14,8x
EV / Sales2019 1,64x
EV / Sales2020 1,57x
Capitalization 104 B
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Technical analysis trends UNITED PARCEL SERVICE
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 123,52  $
Last Close Price 120,70  $
Spread / Highest target 16,0%
Spread / Average Target 2,34%
Spread / Lowest Target -29,6%
EPS Revisions
Managers
NameTitle
David P. Abney Chairman & Chief Executive Officer
James Jay Barber Chief Operating Officer & Senior Vice President
Richard N. Peretz Chief Financial Officer, Treasurer & Senior VP
Juan R. Perez Chief Information & Engineering Officer, Senior VP
Carol B. Tomé Independent Director
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