United Parcel Service (NYSE:UPS) stock is driving higher on Tuesday as investors react to the company’s earnings report for the fourth quarter of 2021.
Let’s dive into that earnings news below to see what has holders of UPS stock smiling today!
- The biggest highlight worth noting is the company’s adjusted earnings per share of $3.59 for the quarter.
- That represents a 35% jump compared to the same period of the year prior.
- It also easily beats out Wall Street’s adjusted EPS estimate of $3.10.
- Another boon for UPS stock is its revenue of $27.8 billion in the fourth quarter of 2021.
- That’s an 11.5% jump compared to revenue in the fourth quarter of 2020.
- In addition to that, it comes in above analysts’ estimate of $27.06 billion for the period.
- The UPS outlook for 2022 is also looking good for the company.
- It says it expects to reach its consolidated revenue and operating margin targets for 2023 one year early.
- This has it expecting revenue of roughly $102 billion for the full year of 2022.
- If that holds true, it would beat out Wall Street’s revenue estimate of $100.01 billion for the year.
- The delivery company also announced a Q1 2022 dividend of $1.52 per share in its latest earnings report.
- This dividend is payable on March 10, 2022, to investors on record as of Feb. 22, 2022.
- The strong earnings report also brings with it heavy trading of UPS stock.
- As of this writing, more than 9 million shares of the stock have changed hands.
- That’s well above the company’s daily average trading volume of about 2.5 million shares.
UPS stock is up 14.8% as of Tuesday morning.
There’s more stock market news that investors will want to know about below!
InvestorPlace has all the latest stock news for traders to go over on Tuesday!. That includes the latest news concerning Astra Space (NASDAQ:ASTR) stock, what’s going on with Chinese EV stock today, as well as this morning’s biggest pre-market stock movers. You can find all of that at the following links!
More Tuesday Stock Market News
- ASTR Stock: Dear Astra Space Investors, Mark Your Calendar for Feb. 4
- Chinese EV Stocks: What Is Going on With NIO, XPEV and LI Stocks Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.