UPS (NYSE: UPS) posted revenues of $24.2 billion in the third quarter, up 4.2% year-over-year and missing Street estimates by $120 million. Adjusted earnings came in at $2.99 per diluted share in Q3, an increase of 10.3% year-over-year and beating Street estimates of $2.84.
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Carol Tomé, UPS CEO commented, “The macro environment is very dynamic, but we are on track to achieving our 2022 financial targets by executing our strategy and controlling what we can control.”
The shipping and logistics company reaffirmed its outlook for FY22 and expects revenues of approximately $102 billion, “an adjusted operating margin of about 13.7% and adjusted return on invested capital above 30%.”