United Parcel Service Inc (NYSE:UPS) is expected to report a year-over-year drop in both earnings and revenue when it hands down its latest financial results on Tuesday, August 8.
Putting pressure on the package delivery company's top and bottom lines are industry headwinds such as high fuel costs, rising capital expenditures, and a decline in shipping volumes.
For the second quarter, UPS is expected to post earnings per share of $2.51, down 23.7% from earnings of $3.29 per share in the year-ago quarter.
Revenue is pegged at $22.88 billion, down 7.6% from sales of $24.77 in the comparable period in 2022.
Per Zacks Consensus Estimate, U.S. Domestic Package revenue is expected to fall 4.2% to $14.74 billion, while the International Package revenue estimate is $4.76 billion, down 6.2% year-over-year.
Supply Chain Solutions revenue is expected to tumble 17.5% from the same period last year to $3.49 billion.
UPS shares traded hands at $180.76 on Friday afternoon.
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