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On one hand, UPS beat on everything that mattered this quarter. EPS of $1.76 against $1.66 expected, revenue of $22.8 billion against $21.81 billion expected, and raised full-year guidance on top of it. On the other hand, the stock fell 8% anyway, because Wall Street also got to see UPS' third-quarter outlook.
The best line of the whole call, though, came from CEO Carol Tomé, who said, "if you ignore Amazon and the volume that we intentionally made available to the market, we actually grew our volume in the second quarter." Which, sure, if you ignore the baseball playing, the Mets look great this year. Half the companies in America would probably love the chance to report earnings with an asterisk that says "excluding our biggest, most demanding customer, everything here looks fantastic." Tomé is just the one honest enough to say it out loud on a recorded call.
The Amazon divorce is real, though, and mostly finished. UPS has cut roughly 2 million pieces a day of what it calls "lower quality Amazon volume," stripping out about $4.5 billion in related costs so far, on purpose, in exchange for a leaner network it insists will pay off as volume grows elsewhere. Domestic revenue rose 6% on higher revenue per piece, international jumped 12.5%, and healthcare logistics cleared $3 billion for a second straight quarter, with Tomé bragging UPS is the only carrier offering true end-to-end healthcare delivery on its own ******* ets.
One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.
#revenue
On one hand, UPS beat on everything that mattered this quarter. EPS of $1.76 against $1.66 expected, revenue of $22.8 billion against $21.81 billion expected, and raised full-year guidance on top of it. On the other hand, the stock fell 8% anyway, because Wall Street also got to see UPS' third-quarter outlook.
The best line of the whole call, though, came from CEO Carol Tomé, who said, "if you ignore Amazon and the volume that we intentionally made available to the market, we actually grew our volume in the second quarter." Which, sure, if you ignore the baseball playing, the Mets look great this year. Half the companies in America would probably love the chance to report earnings with an asterisk that says "excluding our biggest, most demanding customer, everything here looks fantastic." Tomé is just the one honest enough to say it out loud on a recorded call.
The Amazon divorce is real, though, and mostly finished. UPS has cut roughly 2 million pieces a day of what it calls "lower quality Amazon volume," stripping out about $4.5 billion in related costs so far, on purpose, in exchange for a leaner network it insists will pay off as volume grows elsewhere. Domestic revenue rose 6% on higher revenue per piece, international jumped 12.5%, and healthcare logistics cleared $3 billion for a second straight quarter, with Tomé bragging UPS is the only carrier offering true end-to-end healthcare delivery on its own ******* ets.
One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.
#revenue
13 hours ago
