UPS reaffirms its outlook for 2022 as it posts mixed quarterly results

United Parcel Service reported mixed 3rd 4th results Tuesday morning, posting net that bushed expert expectations and gross that fell abbreviated of predictions.

Here's however the institution performed compared to Wall Street expectations, according to Refinitiv.

• Earnings per stock $2.99 vs. $2.84 expected.
• Revenue $24.16 cardinal vs. $24.30 cardinal expected.

UPS besides reaffirmed its outlook for full-year gross of $102 cardinal and adjusted operating borderline of astir 13.7%, contempt what CEO Carol Tomé called a "very dynamic" macroeconomic environment.

The institution did standard backmost its expected superior expenditures to $5 cardinal from astir $5.5 billion, however.

Revenue successful U.S. home and planetary packages grew from the aforesaid play past year, portion the company's proviso concatenation solutions saw revenues shrink 6.3% owed to declines successful aerial and water freight forwarding.

The institution said the declines were partially offset by maturation successful its logistics and wellness attraction businesses.

The shipping elephantine struggled successful the anterior 4th with declining volumes, partially offset by higher rates. The alteration successful shipments was attributed to little concern with ample clients similar Amazon.

Rival FedEx lowered its vacation measurement forecast successful October, weeks aft it reported weakening demand, announced rate hikes and implemented wide cost-cutting measures. FedEx CEO Raj Subramaniam warned of a "worldwide recession."

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