The giant in the field of logistics, United Parcel Service, predicts that revenues for the whole year will be higher than market estimates, mainly due to higher transport prices and demand from more profitable e-commerce customers.
Delivery volumes for UPS and rival FedEx soared during the pandemic due to high online shopping, with US retailers announcing better-than-expected $ 886.7 billion in sales during the crucial holiday season.
UPS, the largest parcel delivery company, said it expects revenue to reach $ 102 billion in 2022, up from estimates of $ 100 billion.
The company’s share increased by 5.6% in pre-conference transactions.
Total revenue for the fourth quarter stood at a record $ 27.77 billion, up from an initial estimate of $ 27.06 billion.
Adjusted quarterly earnings rose to a record $ 3.15 billion, or $ 3.59 per share, from $ 2.33 billion, or $ 2.66, a year earlier.
Source: Capital
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