Shares of United Parcel Service Inc. shot up 4.7% in premarket trading Tuesday, after the package delivery giant reported fourth-quarter profit and revenue...
Shares of United Parcel Service Inc. shot up 4.7% in premarket trading Tuesday, after the package delivery giant reported fourth-quarter profit and revenue that were well above expectations, boosted by strength in its domestic package business, and declared a quarterly dividend that represented a 49% increase.
Excluding nonrecurring items, adjusted earnings per share rose to $3.59 from $2.66 a year ago, beating the FactSet consensus of $3.10. Last year’s results excluded $5.66 a share in defined-benefit plan charges. Operating expenses growth was 4.5% to $23.88 billion, slower than revenue growth, to lift operating profit as a percentage of revenue to 14.0% from 8.2%.
Operating margin in its largest U.S. Domestic Package segment improved to 11.9% from 7.9% a year ago.
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