Sees FY revenue 93 bln usd; adj opg margin 9.4% (Il Sole 24 Ore Radiocor) - New York, 23 Jul - The US parcel delivery and logistics group UPS said that in the second quarter of 2024 diluted earnings per share were 1.65 dollars. Adjusted diluted EPS fell by 29.5% year on year to 1.79 dollars.

Revenue declined 1.1% to 21.8 billion dollars.

The operating profit was 1.9 billion dollars, down 30.1% compared to the second quarter of 2023, and down 29.3% on an adjusted basis.

The adjusted operating maring was 9.5%.

For the full year, UPS expects revenue of approximately 93.0 billion dollars and an adjusted operating margin of about 9.4%.

Capital expenditure is forecast at some 4.0 billion dollars and the group is targeting around 500 million dollars in share repurchases.

'This quarter was a significant turning point for our company as we returned to volume growth in the US, the first time in nine quarters. As expected, our operating profit declined in the first half of 2024 from what we reported last year. Going forward we expect to return to operating profit growth,' said Carol Tome, the chief executive officer.

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(RADIOCOR) 23-07-24 12:49:08 (0313) 5 NNNN