UPS Shares Slide After Missing Q2 Revenue Estimates, Lowers FY23 Guidance
Portfolio Pulse from Akanksha Bakshi
United Parcel Service Inc (UPS) reported a Q2 FY23 revenue decline of 10.9% YoY to $22.055 billion, missing the consensus of $23.11 billion. Adjusted EPS was $2.54, beating the consensus of $2.50. The company also lowered its FY23 guidance due to the impact from labor negotiations and associated costs. UPS shares are trading lower by 0.73% at $180.82 premarket.
August 08, 2023 | 1:33 pm
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UPS reported lower than expected Q2 FY23 revenue and lowered its FY23 guidance, leading to a premarket drop in its share price.
UPS reported a significant decline in its Q2 FY23 revenue, missing the consensus estimate. Additionally, the company lowered its FY23 guidance due to labor negotiations and associated costs. These factors have negatively impacted investor sentiment, leading to a drop in the company's share price in premarket trading.
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