×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Infrastructure | Money | UPS | e-commerce

UPS Delivers Profit, Revenue Beat on E-commerce Demand

UPS
(AP)

Tuesday, 26 October 2021 07:07 AM

United Parcel Service Inc. (UPS) reported better-than-expected quarterly earnings and revenue on Tuesday, bolstered by strong e-commerce demand that has allowed the delivery firm to raise shipping prices and cherry-pick more profitable customers.

The company also raised its full-year adjusted operating margin target to about 13% from about 12.7%, ahead of the holiday season. Shares of Atlanta-based UPS were up about 2% before the opening bell. UPS and rival FedEx Corp are delivering record number of e-commerce packages amid labor shortages since COVID-19 shifted shopping online.

To beef up its delivery operations, UPS outlined plans last month to buy Roadie, a crowd-sourced, same-day delivery company whose major clients include home improvement chain Home Depot.

Revenue from UPS' U.S. operations, its biggest segment, rose 7.4% to $14.21 billion.

The company's third-quarter operating profit rose to about $2.9 billion, or $2.65 per share, in the third quarter ended Sept. 30, from $2.36 billion, or $2.24 per share, a year earlier.

On an adjusted basis, operating profit was $2.71 per share, above the average analyst estimate of $2.55, according to Refinitiv I/B/E/S data. Revenue rose 9.2% to $23.18 billion, beating expectations of $22.56 billion. 

© 2021 Thomson/Reuters. All rights reserved.


StreetTalk
United Parcel Service Inc. (UPS) reported better-than-expected quarterly earnings and revenue on Tuesday, bolstered by strong e-commerce demand that has allowed the delivery firm to raise shipping prices and cherry-pick more profitable customers.
UPS, e-commerce
191
2021-07-26
Tuesday, 26 October 2021 07:07 AM
Newsmax Media, Inc.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved