United Parcel Service posted fourth quarter earnings that exceeded analysts’ expectations. Revenue, however, missed Street forecasts amid a decrease in international deliveries..
UPS earnings for the three months ending in December came in at $3.96 per share, vs. a loss of -90 cents per share in the year-ago quarter. It beat the Street consensus forecast of $3.59 per share. Revenues slipped -2.8% to $27 billion, falling short of analysts' estimates of $28.08 billion.
The company’s domestic segment revenues were up +3.1% year-over-year to $18.25 billion. Revenue-per-piece rose +7.2%. International revenues, however, fell -8.3% to $4.95 billion.
For 2023, UPS projects revenues between $97 billion and $99.4 billion, with margins in the range of 12.8% to 13.6%.
The company announced dividends of around $5.4 billion with share buyback of $3 billion.