A driver for an independent contractor wears a protective mask while driving a delivery truck for delivery mask N95 outside a United Parcel Service Inc. (UPS) land sorting facility in Louisville, Kentucky, USA, on Monday, April 13, 2020.
Luke Sharrett | Bloomberg | Getty Images
Shares of UPS rose about 4% in market trading on Tuesday after the company reported better-than-expected earnings and profits during the busy holiday season, leading to a surge in online shopping due to the Covid -19 pandemic.
Here’s how UPS ended December 31 in the fourth quarter compared to what investors expected, based on estimates compiled by Refinitiv:
- Adjusted EPS: $ 2.66 per share versus $ 2.14 expected.
- Revenue: $ 24.9 billion versus $ 22.87 billion expected.
UPS did not anticipate its future earnings due to the ongoing uncertainty of the pandemic.
“Our financial performance in the fourth quarter exceeded our expectations, and I thank all UPSers for their extraordinary efforts to provide leading-edge service during the holidays.” Carol Tomé, CEO, said in the earnings statement.
This is an evolving story. Come back later for updates.