ATLANTA (AP) — A surge within the quantity of deliveries that arrived with the beginning of the pandemic has not eased at UPS, the place consolidated common day by day quantity jumped 14.3% within the first quarter.
The Atlanta firm on Tuesday posted earnings of $4.79 billion, or $5.47 per share. Per-share income with one time good points or losses eliminated have been $2.77 per share, far exceeding Wall Road projections for $1.67, in accordance with survey by Zacks Funding Analysis.
These one time good points included a pension advantage of $2.5 billion. The passage of the American Rescue Plan Act of 2021 final month means massive employers get safety in opposition to insolvency of their pension plans. That diminished UPS’ pension legal responsibility by $6.4 billion.
Income was $22.91 billion, additionally simply beating expectations handily.
Shares, up 75% within the final 12 months, surged 8% earlier than the opening bell which might imply an all time excessive for the corporate’s inventory Tuesday if that development holds.
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A portion of this story was generated by Automated Insights (https://automatedinsights.com/ap) utilizing information from Zacks Funding Analysis. Entry a Zacks inventory report on UPS at https://www.zacks.com/ap/UPS
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