UPS Profit Tops Estimates, Sees 11% Rise in Peak Shipment - Bloomberg
Net income rose 11 percent to $1.21 billion, or $1.32 a diluted share, from $1.1 billion or $1.16 a share a year earlier, the company said in a statement. Analysts predicted $1.28 a share, on average. It’s the first time UPS surpassed analysts’ projections this year.
UPS is working to avoid the peak season problems it faced last year, when unseasonably cold and snowy weather combined with a surge in late, online orders and led to missed deliveries on Christmas. This year, Atlanta-based UPS and FedEx Corp. (FDX) are bracing for even more orders. FedEx this week forecast record shipments of packages between Black Friday and Christmas Eve, an 8.8 percent increase from last year, as e-commerce hits a peak.
“We expect another robust peak season and are confident our network is prepared to operate at the highest level,” Kurt Kuehn, chief financial officer, said in the statement.
Net income rose 11 percent to $1.21 billion, or $1.32 a diluted share, from $1.1 billion or $1.16 a share a year earlier, the company said in a statement. Analysts predicted $1.28 a share, on average. It’s the first time UPS surpassed analysts’ projections this year.
UPS is working to avoid the peak season problems it faced last year, when unseasonably cold and snowy weather combined with a surge in late, online orders and led to missed deliveries on Christmas. This year, Atlanta-based UPS and FedEx Corp. (FDX) are bracing for even more orders. FedEx this week forecast record shipments of packages between Black Friday and Christmas Eve, an 8.8 percent increase from last year, as e-commerce hits a peak.
“We expect another robust peak season and are confident our network is prepared to operate at the highest level,” Kurt Kuehn, chief financial officer, said in the statement.