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