UPS Financial Highlights for Q4 2024

The United Parcel Service Inc. (UPS) announced a 1.5% year-on-year increase in its revenue for the fourth quarter of fiscal 2024, reaching $25.3 billion. This figure slightly missed the expectations set by analysts.

Net income for the quarter was reported at $1.7 billion, with diluted earnings per share decreasing to $2.01. Despite this, the company saw an 18.1% increase in consolidated operating profit, totaling $2.9 billion compared to the same period in the previous year.

CEO's Remarks on the Quarterly Performance

"I want to extend my gratitude to all UPSers for their dedication and hard work. Their efforts have enabled us to conclude 2024 with an exceptional peak season, delivering top-tier service and robust financial results that surpassed our quarterly targets," stated CEO Carol Tome.

Market Reaction

Following the announcement, UPS' shares experienced a 5.06% drop in premarket trading, with shares selling at $127.02 each at 6:08 am ET.