United Parcel Service (UPS) forecasts that its revenue for the fiscal year 2024 will fall between $92.0 billion and $94.5 billion. Simultaneously, it anticipates a consolidated adjusted operating margin within the scope of 10.0% to 10.6%. The company's spending plan outlines capital investments amounting to around $4.5 billion and approved dividends worth approximately $5.4 billion.
In contrast, UPS registered a consolidated operating profit of $2.5 billion in the fourth quarter, witnessing a 22.5% fall compared to the corresponding period in 2022. During the said quarter, the company recorded an earnings per share of $1.87. However, the GAAP results for the fourth quarter incorporated a total charge of $512 million or $0.60 per share leading to a 27.1% slump in the Consolidated operating profit. The adjusted earnings per share hovered at $2.47, depicting a decline by 31.8% in reference to the same duration in 2022. In a poll conducted by Thomson Reuters involving 25 analysts, the forecasted profit per share averaged to $2.46 for the quarter. This estimation generally does not consider exceptional elements.
UPS earned a consolidated revenue of $24.9 billion in the fourth quarter, an 11.8% drop from the fourth quarter of 2022. This figure fell short of the average estimation of $25.45 billion by market analysts.
Meanwhile, UPS announced a dividend of $1.63 per share for the first quarter on all outstanding Class A and Class B shares. The dividend, to be paid on March 8, 2024, is directed towards shareholders registered as of February 20, 2024.
UPS shares saw a 4% decrease in pre-market trading on Tuesday.
