Just as expected, UPS has had another strong 2021 quarter with shipments to residences continuing at a brisk pace, no surprise there. However revenue for home deliveries, UPS” largest market sector was somewhat weaker than some analysts had predicted. Could this be a sign on things to come; a slowdown in the economy? Only time will tell. After this quarterly report, UPS’ shares dipped about 1% before the opening bell on July, 27th.
UPS reported that revenues from domestic activity still grew 10.2% to $14.40 billion in the second quarter, with per-piece revenue rising 13.4%. However, Wall Street had projected domestic revenue of $14.76 billion. Revenue from UPS’ international operations increased 30% to $4.82 billion, which was better than the $4.57 billion analysts had expected.
For the three months ended June 30, UPS Inc. earned $2.68 billion, or $3.05 per share. After UPS stripped out some one-time costs, earnings were $3.06 per share, easily beating the $2.75 that Wall Street was looking for. A year earlier, UPS headquartered in Atlanta, earned a “modest” $1.77 billion, or $2.03 per share. Overall revenue in the second quarter of 2021 was $23.42 billion, also better than expected by many.
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