UPS Rises After Posting Q1 Profit Beat, Revenue Miss
33 minutes ago
United Parcel Service (UPS) on Tuesday released first-quarter results that surpassed analyst expectations for adjusted profit but fell short of revenue expectations.
UPS reported adjusted earnings per share (EPS) of $1.43 on adjusted net income of $1.22 billion, above the marks of $1.31 per share and $1.12 billion analysts expected, according to estimates compiled by Visible Alpha. However, UPS’s revenue of $21.7 billion came in slightly below analyst estimates of $21.89 billion.
“Our financial performance in the first quarter was in line with our expectations, and average daily volume in the U.S. showed improvement through the quarter,” UPS Chief Executive Officer (CEO) Carol Tomé said in a statement. “Looking ahead, we expect to return to volume and revenue growth.”
UPS shares were up 2.2% late in the morning Monday. Still, the stock is down more than 5% year-to-date and 24% in the last year.
-Aaron McDade
Nucor Stock Drops as Lower Selling Prices Weigh on Steelmaker’s Results and Outlook
1 hr 16 min ago
Shares of Nucor (NUE) slumped in early trading Tuesday after the steel producer missed Wall Street’s quarterly estimates and issued a weaker-than-expected current-quarter outlook amid lower selling prices.
The Charlotte, North Carolina-based steelmaker posted first-quarter earnings of $3.46 per share, below analysts’ forecast of $3.64 a share. Revenue in the period of $8.14 billion contracted 7% from the prior year’s corresponding quarter and came in short of the $8.26 billion consensus view, in part, due to the company’s steel products unit reporting a 15% year-over-year (YOY) fall in shipments coupled with lower average selling prices.
Looking ahead, the company sees the bottom line declining on a sequential basis in the current quarter due to ongoing lower average selling prices weighing on its steel mills segment.
Source: TradingView.com.
After climbing to a new all-time high (ATH) of $203 earlier this month, Nucor’s share price has retraced in…
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