Package delivery giant United Parcel Service, Inc. (
) on Tuesday posted a 26% gain in second quarter profits, but
backed its full-year outlook, which could miss analyst
The Atlanta-based company reported second quarter net income of
$1.06 billion, or $1.07 per share, compared with $845 million, or
84 cents per share, in the year-ago period. Excluding one-time
items, adjusted profit was $1.05 per share.
Revenue rose 8% from last year to $13.2 billion.
On average, Wall Street analysts expected a slightly smaller
profit of $1.04 per share, on lower revenue of $13.1 billion.
Looking ahead, the company backed its previously-announced
full-year earnings forecast for profits ranging from $4.15 to $4.40
per share, which could miss analyst estimates of $4.34.
UPS shares fell 55 cents, or -0.7%, in premarket trading
The Bottom Line
Shares of United Parcel Service (
) have a 2.81% dividend yield, based on last night's closing stock
price of $74.05. The stock has technical support in the $68-$70
price area. If the shares can firm up, we see overhead resistance
around the $76-$79 price levels.
United Parcel Service, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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