UPS stock gains after profit and revenue beats, while domestic segment revenue comes up shy

2 months ago 28

Shares of United Parcel Service Inc. UPS, -0.84% edged up 0.5% successful premarket trading Tuesday, aft the bundle transportation elephantine reported second-quarter nett and gross that bushed expectations, adjacent arsenic the U.S. home concern came up abbreviated of gross forecasts. Net income roseate to $2.68 billion, oregon $3.05 a share, from $1.77 billion, oregon $2.03 a share, successful the year-ago period. Excluding nonrecurring items, adjusted net per stock came to $3.06, to bushed the FactSet statement of $2.81. Revenue roseate 14.5% to $23.42 cardinal from $20.46 billion, supra the FactSet statement of $23.19 billion. U.S. home conception gross grew 10.2% to $14.40 billion, helped by a 13.4% summation successful gross per piece, but was beneath the FactSet statement of $14.76 billion; planetary conception gross accrued 30.0% to $4.82 billion, topping expectations of $4.57 billion; and proviso concatenation solution gross roseate 14.3% to $4.21 cardinal to bushed expectations of $3.85 billion. The institution affirmed its 2021 outlook for superior expenditures of astir $4.0 billion. The banal has rallied 24.6% twelvemonth to day done Monday, portion the Dow Jones Transportation Average DJT, +0.11% has precocious 18.1% and the Dow Jones Industrial Average DJIA, +0.24% has gained 14.8%.

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