UPS reports EPS in-line, revs in-line; reaffirms FY18 EPS guidance, raises FCF
- Reports Q3 (Sep) earnings of $1.82 per share, excluding non-recurring items, in-line with the S&P Capital IQ Consensus of $1.82; revenues rose 7.9% year/year to $17.44 bln vs the $17.48 bln S&P Capital IQ Consensus.
- The U.S. Domestic segment experienced strong revenue growth of 8.1% to $10.4 billion, driven by high demand for the company's solutions and robust yield expansion compared to 3Q 2017. The segment also generated sequential yield improvements driven in part by a more disciplined approach to capture high-quality growth opportunities.
- Export volume also increased across all regions and exports grew nearly 3% on top of 19% growth last year. Year-over-year comparisons are affected by the strong 3Q 2017 growth UPS experienced in Europe.
- Co reaffirms guidance for FY18, sees EPS of $7.03-7.37, excluding non-recurring items, vs. $7.26 S&P Capital IQ Consensus. As previously guided, UPS expects 4Q18 adjusted EPS to increase about 15 percent, despite anticipated currency headwinds in emerging markets and one less operating day during peak season. The company is raising free cash flow guidance to over $5.0 billion in 2018 from $5B.
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