UPS 2Q 17 earnings and ConocoPhillips 2Q 17 earnings were released before opening bell this morning. UPS reported earnings of $1.58 per share on $15.8 billion in revenue. Analysts had been expecting $1.47 per share in earnings on $15.5 billion in revenue. In last year’s second quarter, the delivery company reported $1.43 per share in earnings on $14.6 billion in revenue.
ConocoPhillips reported adjusted earnings of 14 cents per share, against the consensus estimates of 2 cents per share in adjusted losses and $7.15 billion in revenue. In last year’s second quarter, the company reported adjusted losses of 79 cents per share on
UPS Q2 17 earnings
UPS Q2 17 earnings revealed that Domestic revenue grew 8.1% as Air & Ground Product drove that increase. Export shipments rose 2% as all International regions contributed to the growth. All Supply Chain & Freight Units contributed to the 12% increase in revenue.
UPS expects full-year earnings to be between $5.80 and $6.10 per share on an adjusted basis, which is a bit light but still in line with consensus, which stands at $5.95 per share.
After the UPS Q2 17 earnings were released, the company’s stock slipped by as much as 0.39% falling to $111.85 in premarket trading.
ConocoPhillips 2Q 17 earnings
ConocoPhillips 2Q 17 earnings report revealed a loss of $2.78 per share on a GAAP basis, which was much worse than the year-ago quarter’s 86 cents per share in losses. This year’s second quarter was negatively impacted by non-cash impairments and premiums on early debt retirement.
Excluding Libya, production was 1.425 million barrels of oil equivalent, a decline of 121 million barrels of oil equivalent. The company expects production to be between 1.17 million and 1.21 million barrels of oil equivalent during the third quarter, excluding Libya and includes expected impacts from dispositions.
After the ConocoPhillips 2Q 17 earnings were announced, the company’s stock rose by as much as 0.92% to $44.10 in premarket trading.