United Parcel Service Inc UPS shares are trading lower Tuesday. The company reported better-than-expected financial results and reaffirmed guidance.
UPS said second-quarter revenue jumped 5.7% year-over-year to $24.8 billion, which beat the estimate of $24.62 billion, according to data from Benzinga Pro. The company reported quarterly earnings of $3.29 per share, which beat the estimate of $3.16 per share.
"While the external environment is ever changing, our better not bigger strategic framework has fundamentally improved nearly every aspect of our business, enabling greater agility and strong financial performance," said Carol Tomé, CEO of UPS.
UPS reaffirmed full-year revenue guidance of approximately $102 billion. The company also raised its targeted share repurchases for 2022 to $3 billion.
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UPS Price Action: UPS has traded between $233.72 and $165.34 over a 52-week period.
The stock was down 3.01% at $182.25 at time of publication.
Photo: courtesy of UPS.
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