Breaking News
Aug 8, 2023
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United Parcel Services, Inc declined 0.8% to $180.59 after the parcel delivery company reported weaker-than-expected revenue in the second quarter.
Consolidated revenue in the second quarter declined 10.9% to $22.1 billion and net income dropped to $2.1 billion from $2.8 billion and diluted earnings per share fell to $2.42 from $3.25 a year ago.
U.S. domestic revenue declined 6.9% to $15.5 billion and international revenue fell 13% to $4.4 billion. Supply chain solutions revenue fell 23.4% to $324 million.
The company also lowered its full-year outlook citing macroeconomic headwinds.
For the full-year, the company estimated revenue of $93 billion and adjusted operating margin around 11.8%, dividend payout of $5.4 billion and $3 billion of stock repurchase.
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