Sirius XM Holdings Inc. (SIRI) Earnings In Line, UPS Beats

Sirius XM Holdings Inc. (SIRI) Earnings In Line, UPS Beats

Sirius XM and United Parcel Service released their latest earnings reports before opening bell this morning. Sirius XM posted earnings of 3 cents per share on revenue of $1.12 billion, both of which were in line with analyst estimates. Analysts had been expecting earnings of $1.27 per share on $14.51 billion in revenue. In the same quarter last year, the delivery service posted earnings of $1.21 per share and $14.27 billion in revenue. The satellite radio provider posted earnings of 2 cents per share on $1.04 billion in revenue in last year’s second quarter.

UPS posted earnings of $1.35 per share, a 12% year over year increase, on revenue of $14.1 billion. Analysts had been expecting earnings of $1.27 per share and revenue of $14.51 billion.

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Sirius XM raises guidance

Sirius XM’s reported earnings were 2 cents per share, including the settlement of some litigation related to royalties. The company set a new second quarter record for revenue with its 8% year over year increase. Adjusted EBITDA was also a new record at $415 million, a 12% increase from last year. The satellite radio provider added about 692,000 net new subscribers during the quarter, an increase of 46% year over year. Sirius XM also recorded a 1.6% post-merger churn rate, a record low.

For the full year, the company now expects to add about 1.8 million net new subscribers, an increase from the previous guidance. Management also raised full year guidance for revenue to $4.5 billion and adjusted EBITDA to $1.62 billion.

As of this writing, shares of Sirius XM were up 3.65% at $3.98 per share in premarket trading.

UPS’ profit rises

UPS reported improvements in profitability and margins across all segments. The delivery service reported a 5.5% increase in export shipments on the back of strong growth in intra-Europe shipments. Revenue from UPS’ U.S. Domestic Package segment rose by $1.40 million to $8.8 billion led by a 15% increase in Deferred Air products and an 8% increase in UPS SurePost.

International revenue climbed 1.5% after adjusting for currencies. UPS recorded a 4.5% decline in revenue from its Supply Chain and Freight business. The stronger U.S. dollar and reductions in fuel surcharges weighed on the company’s results.

UPS management guided for a 6% to 12% increase in full year earnings, which would be a range of $5.05 to $5.30 per share. As of this writing, shares of UPS were up 2.36% at $97.40 per share.


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