UPS (NYSE: UPS) reported Q1 EPS of $2.77, $1.05 better than the analyst estimate of $1.72. Revenue for the quarter came in at $22.9 million versus the consensus estimate of $20.49 million.

Outlook:

Given continued economic uncertainty, the Company is not providing 2021 revenue or diluted earnings per share guidance; however, it is re-affirming its full-year capital allocation plans. UPS has scheduled its 2021 Investor and Analyst Day for June 9, when it will share further financial details.

Reaffirms Full-Year 2021 Capital Allocation Plans

• The sale of UPS Freight is expected to close in the second quarter.
• Capital expenditures are planned to be about $4.0 billion.
• Long-term debt repayments, including $1.5 billion repaid in the first quarter of 2021, will total $2.5 billion.
• Effective tax rate for the remainder of the year is expected to be around 23.5%.
• The Company has no plans to repurchase shares.

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