UPS Posts 5% Increase In Q3 Sales

United Parcel Service, Inc. UPS reported in-line EPS for the third quarter. However, revenue, which witnessed 5 percent growth, came in above the estimates.

• Reports 3.6 percent increase in EPS to $1.44, in line with estimates.
• Delivers revenue growth of 5 percent at $14.93 billion, topped by $0.2 billion.
• Average daily package volume in the US grew 5.7 percent.
• Domestic revenue advanced 4.8 percent.
• Maintains adjusted EPS outlook of $5.70-$5.90 for the year 2016 versus Street expectations of $5.81.
• Repurchased shares worth $2.0 billion in the third quarter.

UPS chairman and CEO David Abney commented, "We are providing value to UPS customers worldwide and our solutions enabled strong growth this quarter. The investments we are making in technology and capacity will ensure UPS continues to deliver great results well into the future."

The stock closed Wednesday's trading at $108.61.