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Author: Alan LittleDate: 2021-02-03

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 threemonth 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 oneoff 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. 






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