UPS Shares Drop as 2024 Outlook Falls Short of Expectations Despite Q4 Earnings Beat
• UPS stock down due to softer-than-expected full-year revenue outlook
• UPS posted mixed Q4 results - revenue missed estimates and declined 7.8% year-over-year; adjusted EPS beat estimates
• UPS forecasts 2024 revenue of $92B-$94.5B, below analyst estimates of $95.51B
• Q4 revenue declined to $24.92B from $27.03B last year
• UPS board approved a dividend increase of 1 cent to $1.63 per share