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Shares of United Parcel Service, Inc. (NYSE: UPS) were trading higher by more than 2.5 percent early Tuesday morning after the company reported its fourth quarter results.
UPS earned $1.47 per share (Adjusted EPS of $1.57) in the fourth quarter on revenue of $16.1 billion. Wall Street analysts were expecting the company to earn $1.42 per share on revenue of $16.28 billion.
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UPS noted its quarterly revenue was impacted by currency translations and lower fuel surcharges. On a currency-neutral basis, its revenue grew 2.4 percent year-over-year.
U.S. Domestic revenue rose 2.6 percent to $10.3 billion during the quarter, while the segment's adjusted operating profit rose more than 18 percent year-over-year to $209 million. International adjusted profit rose 16 percent to $624 million, while the Supply Chain & Freight segment's profit rose 11 percent to $199 million.
UPS also noted it delivered 1.3 billion packages during the fourth quarter, marking an increase of 1.8 percent from a year ago. Throughout the entire fiscal year, the company delivered 4.7 billion packages, up 2.1 percent over 2014's level.
"Our flexible integrated network, close collaboration with customers and the extraordinary efforts of UPSers enabled us to achieve great service and record financial performance this quarter," said David Abney, UPS chief executive officer. "This year's results build on our multi-year strategy to deliver improved shareowner value."
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.