UPS beats quarterly expectations, raises full-year guidance again

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United Parcel Service on Tuesday reported third-quarter results that beat Wall Street expectations and raised its full-year guidance.

The guidance raise comes after the company already upped its outlook last quarter. UPS now said it's projecting full-year consolidated revenue of approximately $92.6 billion, up from its previous expectations of $91.2 billion, as well as fourth-quarter revenue of $25.7 billion.

Here's how the company performed in its third quarter, compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

For the quarter ended Sept. 30, UPS reported net income of $1.16 billion, or $1.37 per share, down slightly from net income of $1.31 billion, or $1.55, the year prior. Adjusting for one-time expenses, UPS reported earnings per share of $1.69.

In its domestic segment, the company said it saw a 4.5% increase in revenue, while its international segment had a 7.1% rise in revenue. Its supply chain solutions business saw an 18.2% revenue increase, which UPS said was primarily driven to growth in forwarding and logistics, including healthcare.

The company had previously said it expected its third-quarter domestic revenue to be flat and for domestic average daily volume to fall due to seasonal declines and the glide down with Amazon.

"As momentum builds, we are entering the holiday shipping season from a position of strength, with the most automated and efficient network in our history," CEO Carol Tomé said in a statement.

UPS has been in the midst of a turnaround under Tomé's leadership, working to create a leaner business model and leveraging automation to position the company for growth.

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