UPS Shares Rise On Earnings Beat, Sirius XM Holdings Inc. Falls On In-Line Results

UPS and Sirius XM released their latest earnings reports before opening bell this morning. UPS reported earnings of $1.32 per share on $15.3 billion in revenue, against the Wall Street consensus estimates of $1.29 per share and $15.2 billion. In last year’s first quarter, the shipping company reported $1.27 per share in earnings on $14.4 billion in revenue.

Sirius XM reported earnings of 4 cents per share on $1.3 billion in revenue, both of which were in line with the consensus estimates. In the year-ago quarter, the satellite radio provider reported earnings of 3 cents per share on $1.2 billion in revenue.

UPS shares rise

UPS said Domestic revenue rose 5% year over year to $9.5 billion on the back of an increase in package yield due to continuing growth in e-commerce demand. The company’s earnings increase was driven by a 22% improvement in its Supply Chain and Freight segment’s operating profits and strong performance in the International segment. International revenue rose to $3.1 billion, while Supply Chain and Freight Shipment revenues increased to $2.7 billion.

Notes From Schwarzman, Sternlicht, Robert Smith, Mary Callahan Erdoes, Joseph Tsai And Much More From The 2020 Delivering Alpha Conference

Stephen SchwarzmanThe following are rough notes of Stephen Schwarzman, Steve Mnuchin, and Barry Sternlicht's interview from our coverage of the 2020 CNBC Institutional Investor Delivering Alpha Conference. We are posting much more over the next few hours stay tuned. Q2 2020 hedge fund letters, conferences and more One of the most influential investor conferences every year, Read More


UPS said revenue in all segments and major product categories grew while fuel expenses jumped 43% year over year. Next Day Air shipments grew 3.9% domestically, while Deferred Air shipments increased 4.1%.

For the full year, the company reaffirmed its adjusted earnings outlook of $5.80 to $6.10 per share. The shipping company paid about $450 million to buy back 4.2 million shares during the first quarter.

UPS shares rose by as much as 0.82% to $108.50 in premarket trading.

Sirius XM shares fall

Sirius XM
By Sirius XM Holdings [Public domain], via Wikimedia Commons
Sirius XM said first quarter net income rose 20% to $207 million, while adjusted EBITDA increased 14% to $502 million. The company added 259,000 net self-pay subscribers during the quarter, hitting 31.6 million subscribers. Average revenue per user grew 2.3% year over year to $12.95.

Sirius XM expects full-year revenue of around $5.3 billion, compared to the consensus estimate of $5.35 billion. The company expects to add about 1.3 million net self-pay subscribers and report about $2.025 billion in adjusted EBITDA for the full year.

Shares of Sirius XM ticked lower in premarket trades, falling by as much as 1.17% to $5.05 per share.