SANDY SPRINGS (dpa-AFX) - Logistics major United Parcel Service Inc. (UPS) reported Tuesday lower profit in its third quarter, despite higher revenues. Further, the firm issued fourth-quarter outlook and raised fiscal 2026 view.
In the third quarter, net income dropped to $1.163 billion from last year's $1.311 billion. Earnings per share were $1.37, down from prior year's $1.55.
The latest results included a net charge of $279 million or $0.32 per share, comprised of transformation strategy costs, as well as a $182 million charge associated with a goodwill impairment in Supply Chain Solutions, partially offset by a gain on sale of MD-11 assets.
Adjusted net income was $1.442 billion or $1.69 per share, compared to $1.475 billion or $1.74 per share a year ago.
Adjusted operating profit declined to $2.054 billion from $2.132 billion last year. Adjusted operating margin was 9.0 percent, down from 10.0 percent a year ago.
Consolidated revenue increased 6.7 percent from last year to $22.9 billion, with growth across all segments.
Looking ahead for the fourth quarter, on a consolidated basis, UPS expects revenue to be approximately $25.7 billion and adjusted operating profit of approximately $3.3 billion.
Further, for fiscal 2026, the company now expects adjusted earnings per share of approximately $7.28, adjusted operating profit of approximately $8.75 billion, and consolidated revenue of approximately $92.6 billion.
The company previously projected adjusted earnings per share of around $7.22, adjusted operating profit of around $8.65 billion and consolidated revenues of around 91.2 billion.
In pre-market activity on the NYSE, UPS shares were trading 1.41 percent higher at $101.61 after closing Monday's regular trading 0.73 percent lower.
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