- EPS 31.32 vs $1.28 exp
- Revenue $14.29bn vs $14.20bn exp
- Global shipments up 6.9%
Another beat from one of the cogs of the US and global economy. On the downside revenue per package fell 1.5% but there was good news as international export packages were up 9.4% per day.
Shipping companies are a good demographic to watch as they give a key insight into how an economy is faring. If it’s doing well then more orders are taken and more goods are shipped more often. If an economy is not doing so well then orders drop as businesses keep inventories low and only order as they need.
It may be a little worry that revenue per package dropped but that can be reversed on lower input costs, and fuel makes up a huge part of shippers costs.
