Please select the second broker
UPS (UPS) +2% as domestic package revenues soar in Q4
United Parcel Service (UPS) shares advanced 2% on Tuesday after the logistics company’s Q4 adjusted earnings beat the Wall Street consensus and revenue soared.
UPS delivered $2.66 earnings per share for the latest three–month period, which was an increase on the $2.11 figure from a year ago and 52 cents ahead of expectations.
Revenue also jumped 21% to $24.9bn to beat out pre-report forecasts from analysts by a full $2bn as more people and businesses turned to couriers during the pandemic.
However, less impressive was UPS’s overall $3.3bn loss for Q4 as pension adjustment costs, a charge related to the sale of UPS Freight to TFI International (TFII), and other factors weighed on bottom line prior to adjustments.
The $5.6bn in charges is significant, but most will be a one–off and CEO Carol Tome said that the changes made should help to streamline the company’s operations and make UPS “better, not bigger”.
Tome noted that the results elsewhere were better than internal expectations.
She added: “This is the highest quarterly operating profit in the company’s history, with record profit produced in each segment.”
UPS thrived over the festive period as its domestic package division made more deliveries and generated 17.4% more revenue compared to the same period in late 2019.
UPS has also been working alongside rival FedEx (FDX) to deliver COVID-19 vaccines from Moderna (MRNA) and Pfizer (PFE).
The quarterly beats helped UPS to make gains on Tuesday as shares eased 2% higher for a new $159.40 price.
UPS currently has an analyst consensus at overweight with 12 buy, seven hold and four sell ratings.
Scam Brokers, Broker Complaints
Are you aware of a scam broker or want to make a broker complaint?
We want our site users to find good brokers to trade through and to be warned off bad brokers. We encourage you to use our complaints tool to let us know about your experiences.
We have categorised the common complaints to make it easier for you and we have provided some guidance on what you may want to try before submitting a complaint, if our suggestions do not provide you with a resolution then by submitting a complaint, our team will attempt to take up your case with the relevant Broker and if needed, submit a formal report to the regulators.
We use the information you give us to decide if we want to continue to promote a broker on our site.
Your scam broker complaint not only helps you, it helps others and it helps us determine if we continue to support the broker.