UPS (NYSE: UPS) reported Q1 EPS of $1.32, $0.03 better than the analyst estimate of $1.29. Revenue for the quarter came in at $15.3 billion versus the consensus estimate of $15.17 billion.

Outlook

The company provides guidance on an adjusted (non-GAAP) basis because it is not possible to predict or provide a reconciliation reflecting the impact of future pension mark-to-market adjustments, which would be included in reported (GAAP) results and could be material.

“First quarter results continue to show the benefit of our operating plan improvements across all business units,” said Richard Peretz, UPS chief financial officer. “Our current momentum, combined with accelerated investment initiatives gives us confidence in our ability to attain our full-year guidance.”

UPS reaffirms 2017 adjusted diluted EPS guidance to be between $5.80 and $6.10, which includes more than $400 million, or $0.30 per share of pre-tax currency headwinds.

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