UPS Q3 earnings: Revenue outlook cut


A UPS driver pulls a cart with packages while making deliveries on June 12, 2023 in San Francisco, California. 

Justin Sullivan | Getty Images

Shares of the United Parcel Service closed 6% lower Thursday after the company reported a bigger-than-expected revenue decline and cut its revenue guidance for the year.

The stock hit a new 52-week low.

Here’s how the company performed compared to Wall Street estimates:

  • Adjusted earnings: $1.57 vs. $1.52 per share expected, according to LSEG, formerly known as Refinitiv
  • Revenue: $21.06 billion vs. $21.46 billion expected

For the three-month period ended Sept. 30, UPS reported earnings of $1.13 billion, or $1.31 a share, compared with $2.58 billion, or…

Source cnbc.com

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