UPS Q1 2024 Earnings Report

UPS's financial performance was in line with expectations, with U.S. average daily volume showing improvement through the quarter.

Key Takeaways

UPS announced first-quarter 2024 consolidated revenues of $21.7 billion, a 5.3% decrease from the first quarter of 2023. Diluted earnings per share were $1.30 for the quarter; adjusted diluted earnings per share of $1.43 were 35.0% below the same period in 2023.

Consolidated revenues reached $21.7B, a decrease compared to $22.9B last year.

Consolidated operating margin was 7.4%, with an adjusted operating margin of 8.0%.

Diluted EPS was $1.30; adjusted diluted EPS was $1.43, compared to $2.20 last year.

The company reaffirms its full-year 2024 financial guidance.

Total Revenue

$21.7B

Previous year: $22.9B

-5.3%

EPS

$1.43

Previous year: $2.2

-35.0%

Gross Profit

$3.57B

Previous year: $2.54B

+40.5%

Cash and Equivalents

$4.51B

Previous year: $6.19B

-27.1%

Free Cash Flow

$2.28B

Previous year: $1.75B

+30.5%

Total Assets

$67.6B

Previous year: $72.2B

-6.3%

UPS

UPS Revenue by Segment

Forward Guidance

UPS reaffirms its full-year, consolidated financial targets for 2024.

Positive Outlook

Consolidated revenue to range from approximately $92.0 billion to $94.5 billion
Consolidated adjusted operating margin to range from approximately 10.0% to 10.6%
Capital expenditures of approximately $4.5 billion

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View UPS