Why Shares of UPS Are Falling Today
Shares of United Parcel Service (NYSE: UPS) traded down more than 6% on Thursday morning after the shipping company released year-end results. Fourth-quarter earnings were in line with expectations, but the company failed to deliver on 2020 guidance.
UPS before markets opened reported fourth-quarter adjusted earnings of $2.11 per share on revenue of $20.57 billion, roughly matching analyst expectations for $2.11 per share in earnings on sales of $20.66 billion. Average daily volume in the quarter was up 7.5% year over year to 26.6 million packages on strong demand for air service, and operating profit grew 6.4% year over year thanks to margin improvement and more demand for premium services.
Image source: United Parcel Service.
Source Fool.com
