UPS shares jump on strong fourth-quarter earnings as Covid drives online shopping

A driver for an independent contractor wears a protective mask while operating a delivery truck to delivery N95 respirator masks outside a United Parcel Service Inc. (UPS) Ground sorting facility in Louisville, Kentucky, U.S., on Monday, April 13, 2020.

Luke Sharrett | Bloomberg | Getty Images

Shares of UPS jumped by about 4% in premarket trading Tuesday after the company reported better-than-expected revenue and profits over the busy holiday shopping season, reflecting a boom in online shopping due to the Covid-19 pandemic.

Here’s how UPS did during the fourth quarter ended Dec. 31 compared with what investors expected, based on estimates compiled by Refinitiv:

  • Adjusted EPS: $2.66 per share vs. $2.14 expected.
  • Revenue: $24.9 billion vs. $22.87 billion expected.

UPS did not provide an outlook on its future earnings due to ongoing uncertainty from the pandemic.

“Our financial performance in the fourth quarter exceeded our expectations, and I thank all UPSers for their extraordinary efforts to deliver industry-leading service through the holidays.” CEO Carol Tomé said in the earnings statement.

This is a developing story. Please check back later for updates.

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