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UPS Reaffirms Full-year Adj. EPS Guidance; COO Jim Barber To Retire

United Parcel Service, Inc. (UPS) said the company has delivered solid performance for the third quarter. Looking forward, UPS reaffirmed full-year adjusted earnings per share guidance in the range of $7.45 to $7.75. Analysts polled by Thomson Reuters expect the company to report profit per share of $7.51. Analysts' estimates typically exclude special items. Adjusted free cash flow for the year is projected to be over $4.0 billion.

For the third-quarter, adjusted earnings per share increased 13.7 percent to $2.07. On average, 23 analysts polled by Thomson Reuters expected the company to report profit per share of $2.06, for the quarter. Total operating profit growth was at more than 23 percent, and 20.1 percent on an adjusted basis, led by the U.S. Domestic and International segments.

Third-quarter consolidated revenue increased 5 percent to $18.32 billion, driven by strong average daily volume growth in the U.S. Analysts expected revenue of $18.35 billion for the quarter.

Also, UPS announced Jim Barber, Chief Operating Officer, will retire at the end of December 2019.

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