AUS
NZ
UK
CA
USA
IND
Highlights
- United Parcel Service Inc’s (NYSE:UPS) third-quarter 2021 consolidated revenue jumped 9.2% YoY to US$23.2 billion.
- UPS CEO Carol Tomé said the results reflect the company’s sustained efforts to ensure productivity and efficient capital allocation.
- Last month, the company had unveiled plans to buy the same-day delivery company Roadie, whose clients include Home Depot, to bolster its delivery operations.
Global logistics company United Parcel Service, Inc. (NYSE:UPS) on Tuesday reported better-than-expected third-quarter results, lifted by strong e-commerce demand and higher shipping prices.
The Atlanta-based company raised its full-year consolidated adjusted operating margin target to about 13.0% from 12.7% following the quarterly results.
UPS CEO Carol Tomé said the results reflect the company’s sustained efforts to ensure productivity and efficient capital allocation. Additionally, he said the focus on a “better strategic framework to improve revenue quality” yielded positive results.
The UPS stock was up 4.22% to US$212.50 in the premarket on Tuesday.
Last month, the company had unveiled plans to buy the same-day delivery company Roadie, whose clients include Home Depot, to bolster its delivery operations.
Third-quarter Snapshot
United Parcel’s third-quarter 2021 consolidated revenue jumped 9.2% YoY to US$23.2 billion.
Its consolidated operating profit was up 22.6% YoY to US$2.9 billion. UPS’ diluted earnings per share increased by 18.3% YoY to US$2.65, while it was up 18.9% YoY on an adjusted basis.
In addition, its YTD cash from operations was US$11.8 billion, an increase of 26.7% compared to the same period a year ago. The free cash flow was up 52.3% to US$9.3 billion in the first nine months of 2021 compared to the same period a year ago.
The company’s total revenue in 2020 was US$84.6 billion.
United Parcel operates in more than 220 countries and has over 540,000 employees.
Also Read: Tesla’s market value surpasses US$1 Tr on Hertz EV orders
Source: Pixabay
Also Read: Top artificial intelligence stocks to explore amid AI boom
Stock Performance
The UPS stock price increased by more than 31% year-to-date.
Its 52-week highest and lowest prices were US$219.59 and US$154.76, respectively.
The company’s P/E ratio is 29.09 and the forward P/E one year is 18.17. In addition, the EPS is US$7.01, and the annualized dividend is US$4.08.
United Parcel’s current market cap is US$177,60 billion.
Bottomline
Many S&P 500 companies saw significant earnings growth in the third quarter, continuing from the previous quarter, suggesting sustained global economic recovery from the pandemic recession. So, most analysts forecast the index to grow by over 33% compared to the same period a year ago.
