United Parcel Service Inc (NYSE:UPS) is expected to report an almost 50% year-over-year decline in its profits when it delivers its third quarter 2023 financial results before the market opens on Thursday, October 26.
The package delivery company is expected to post earnings per share (EPS) of $1.60, down 46.5% from EPS of $2.99 in the year-ago quarter.
Revenue is also expected to decline about 10.6% from the same period last year. Analysts expect revenue of $21.61 billion down from $24.16 billion.
Continued challenging macro conditions, changes in consumer behaviour and higher fuel costs are some factors expected to drag on UPS’ 3Q performance.
UPS shares traded flat at about US$152 on Friday afternoon.
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