UPS profit tops estimates, sees record in 2011 - Reuters
United Parcel Service, the world's largest package delivery company, reported a quarterly profit that beat estimates and forecast record-high profits in 2011, sending its shares up nearly 3 percent on Tuesday in premarket trading.
"In less than two years from the recession, they already think they can exceed peak earnings," said BB&T analyst Kevin Sterling.
The economic bellwether's fourth-quarter adjusted operating profit rose to $1.08 per share, up 44 percent from a year ago and topping the $1.05 per share expected by analysts, according to Thomson Reuters I/B/E/S.
United Parcel Service, the world's largest package delivery company, reported a quarterly profit that beat estimates and forecast record-high profits in 2011, sending its shares up nearly 3 percent on Tuesday in premarket trading.
"In less than two years from the recession, they already think they can exceed peak earnings," said BB&T analyst Kevin Sterling.
The economic bellwether's fourth-quarter adjusted operating profit rose to $1.08 per share, up 44 percent from a year ago and topping the $1.05 per share expected by analysts, according to Thomson Reuters I/B/E/S.
