UPS delivers record earnings with rosy outlook, dividend hike; shares soar - Reuters
Logistics giant United Parcel Service Inc (UPS.N) forecast 2022 revenue above market expectations and boosted its dividend after posting record quarterly earnings on Tuesday, supported by higher shipping rates and demand from more profitable e-commerce customers.
Shares in the Atlanta-based company jumped 7% to $216.40 before the bell.
Under Chief Executive Officer Carol Tome, the world's largest parcel delivery firm has adopted a "better, not bigger" strategy, prioritizing lucrative deliveries over volume.
Logistics giant United Parcel Service Inc (UPS.N) forecast 2022 revenue above market expectations and boosted its dividend after posting record quarterly earnings on Tuesday, supported by higher shipping rates and demand from more profitable e-commerce customers.
Shares in the Atlanta-based company jumped 7% to $216.40 before the bell.
Under Chief Executive Officer Carol Tome, the world's largest parcel delivery firm has adopted a "better, not bigger" strategy, prioritizing lucrative deliveries over volume.