United Parcel Service (UPS) reported first-quarter earnings of $3.05 per share, outpacing estimates of $2.87, along with revenues of $24.4 billion. However, the market reacted negatively, causing shares to plunge over 3%, primarily due to concerns about declining package volumes and inflationary pressures. In response to its strong performance, UPS plans to double its share buyback program to $2 billion while maintaining an optimistic annual revenue forecast of approximately $102 billion.
“United Parcel Service, Inc. · fell · shares · over three percent despite announcing first-quarter results”
“United Parcel Service, Inc. · earned · earnings · $3.05 per share”
“United Parcel Service, Inc. · reported · revenue · $24.4 billion”
“United Parcel Service UPS · reported · first-quarter 2022 earnings · $3.05 per share”
“United Parcel Service UPS · beating · the Zacks Consensus Estimate · $2.87”
“UPS · generated · free cash flow · $3,915 million”
“UPS’ capital expenditures · were · $548 million · at the end of the same period”
“UPS’ board of directors · decided to double · its current-year share buyback target · $2 billion”
“UPS · expects · consolidated revenues · $102 billion”
“UPS · reiterates · capital expenditures · 5.4% of revenues”
“United Parcel Service Inc · fell · despite reporting a rise in quarterly adjusted profit”
“United Parcel Service · declined · stock price · 3.5%”