UPS Q2 Earnings: Revenue And EPS Miss, Annual Outlook Cut, Restarts Stock Buyback
Portfolio Pulse from Akanksha Bakshi
UPS reported Q2 2024 earnings with revenue and EPS missing estimates, leading to a cut in its annual outlook. Despite the negative results, UPS restarted its stock buyback program and announced the acquisition of Estafeta to enhance its global logistics capabilities. UPS shares are trading lower by 7.77% premarket.
July 23, 2024 | 11:52 am
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UPS reported Q2 2024 earnings with revenue and EPS missing estimates, leading to a cut in its annual outlook. Despite the negative results, UPS restarted its stock buyback program and announced the acquisition of Estafeta to enhance its global logistics capabilities. UPS shares are trading lower by 7.77% premarket.
The earnings miss and lowered annual outlook are significant negative factors for UPS, likely leading to a short-term decline in stock price. The restart of the stock buyback program and the acquisition of Estafeta are positive moves but are overshadowed by the poor earnings performance.
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