Sluggish Freight Demand Affected United Parcel's Q2 Earnings: Goldman Sachs
Sluggish Freight Demand Affected United Parcel's Q2 Earnings: Goldman Sachs
Goldman Sachs analyst Jordan Alliger reiterated a Buy rating on the shares of United Parcel Service Inc (NYSE:UPS) with a price target of $176.00.
高盛的分析师Jordan Alliger重申了对联合包裹公司（NYSE:UPS）股票的买入评级，目标价为176.00美元。
UPS reported 2Q24 EPS of $1.79 from operations, which was below GS estimate of $1.95 and FactSet's $1.99.
UPS报告第二季度每股收益为1.79美元，低于高盛估计的1.95美元和FactSet的1.99美元。
Domestic margin at 7.1% (vs. 8.1% est) was impacted by pressure on revenue per piece related to mix, noted the analyst.
分析师指出，国内的毛利率为7.1%（比8.1%的预期低），受到与混合相关的件均收入压力的影响。
While the analyst was reasonably encouraged that Domestic volumes did inflect positive YOY (+0.7%), it is disappointing that Domestic margin performance related in part to the yield drag and the ensuing carry forward to full-year guidance, which was lowered by the company.
尽管分析师对国内的成交量转正（+0.7%）感到相当鼓舞，但令人失望的是，国内的毛利表现部分与利润下降有关，此后将影响全年的指导，该公司已将其降低。
The effects of the still sluggish freight environment continue to adversely impact transports, and there has to be a better tone to consumer goods demand and a pick up in manufacturing activity related to fast cycle logistics to boost the more profitable B2B portion of parcel demand, opined the analyst.
分析师认为，仍然滞涨的货运环境继续对运输业产生不利影响，必须有一个更好的消费品需求和与快速循环物流相关的制造活动的积极变化，以提高更有利可图的B20亿包裹需求。
The analyst expects that the profit inflection that is expected in 2H should lend some support to the shares.
分析师预计，预计在下半年会有盈利改进，这应该有助于支持股票。
The shape of 2H24 as well as any indications on volume trajectory, yield improvement and margin potential throughout the year will be important themes to look forward to.
下半年的形势以及有关成交量轨迹、收益改善和潜力的任何迹象，将成为关注的重要主题。
The analyst's 12-month price target of $176 is based on 17.0x P/E multiple applied to Q5-Q8 EPS.
分析师的12个月目标价为176美元，基于17.0倍市盈率应用于Q5-Q8每股收益。
Price Action: UPS shares are trading lower by 13.7% at $125.27 at last check Tuesday.
价格走势：周二最后一次检查时，UPS股票以125.27美元低于13.7%的价格交易。
Photo via Shutterstock
图片来自shutterstock。