UPS Delivers Profit, Revenue Beat on E-commerce Demand

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A United Parcel Service logo is displayed connected  a transportation  motortruck  successful  San Francisco, Calif., connected  Oct. 24, 2014. (Justin Sullivan/Getty Images)

A United Parcel Service logo is displayed connected a transportation motortruck successful San Francisco, Calif., connected Oct. 24, 2014. (Justin Sullivan/Getty Images)

United Parcel Service Inc. reported better-than-expected quarterly net and revenue connected Tuesday, bolstered by beardown e-commerce request that has allowed the transportation steadfast to rise shipping prices and cherry-pick much profitable customers.

The institution besides raised its full-year adjusted operating borderline people to astir 13 percent from astir 12.7 percent, up of the vacation season.

Shares of Atlanta-based UPS were up astir 2 percent earlier the opening bell.

UPS and rival FedEx Corp. are delivering grounds fig of e-commerce packages amid labour shortages since COVID-19 shifted buying online.

To beef up its transportation operations, UPS outlined plans past period to bargain Roadie, a crowd-sourced, same-day transportation institution whose large clients see location betterment concatenation Home Depot.

Revenue from UPS’ U.S. operations, its biggest segment, roseate 7.4 percent to $14.21 billion.

The company’s third-quarter operating profit roseate to astir $2.9 billion, oregon $2.65 per share, successful the 3rd 4th ended Sept. 30, from $2.36 billion, oregon $2.24 per share, a twelvemonth earlier.

On an adjusted basis, operating nett was $2.71 per share, supra the mean expert estimation of $2.55, according to Refinitiv I/B/E/S data.

Revenue roseate 9.2 percent to $23.18 billion, beating expectations of $22.56 billion.

Reuters

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