We are still profitably shrinking overall. I still think we need a better path forward from management, but I’m just a line pilot.

UPS Q3 Earnings

Shares rose 11% in premarket trading to $98.60. Through Monday’s close, the stock has lost more than a quarter of its value since the beginning of the year.

The package-delivery company posted a profit of $1.31 billion, or $1.55 a share, compared with $1.54 billion, or $1.80 a share, a year earlier. The quarter included about $250 million in charges related to restructuring efforts.

Stripping out certain one-time items, earnings were $1.74 a share. Analysts polled by FactSet were expecting adjusted earnings of $1.29 a share.



For the current quarter, which includes the key holiday season, UPS expects revenue of about $24 billion. Analysts are looking for $23.82 billion. “We are positioned to run the most efficient peak in our history,” Chief Executive Carol Tome said.

Tome has been under pressure to reverse a long slump in the company’s stock price. The pressure stems particularly from employees and retirees, who have an outsized say under the company’s unique shareholder structure, The Journal previously reported.

Many UPS workers and retirees own supervoting shares that give them 63% of the voting power.