United Parcel Service, Inc. (NYSE: UPS) Tuesday reported decrease revenues and adjusted revenue for the primary quarter of 2024. The corporate reaffirmed its full-year 2024 steerage.
On an adjusted foundation, March-quarter revenue dropped 35% yearly to $1.43 per share. Unadjusted web earnings was $1.11 billion or $1.30 per share in Q1, in comparison with $1.90 billion or $2.19 per share in the identical interval of 2023.
The weak backside line efficiency displays a 5% lower in first-quarter revenues to $21.7 billion. US Home revenues and Worldwide revenues decreased by 5% and 6% respectively.
“Our financial performance in the first quarter was in line with our expectations, and average daily volume in the U.S. showed improvement through the quarter. Looking ahead, we expect to return to volume and revenue growth,” mentioned Carol Tome, CEO of UPS.
