With brown trucks everywhere, UPS delivers again in 3Q

Friday, October 23, 2020, Vol. 44, No. 43

ATLANTA (AP) — UPS, whose brown delivery trucks have become omnipresent on neighborhood streets during the pandemic, said profits and revenue surged in its most recent quarter.

With so many people getting what they need delivered to the front door, the consolidated average daily volume at UPS jumped 13.5%

Profit jumped 12% to $1.96 billion in the third quarter, or $2.24 per share. Per-share earnings with unusual items removed were $2.28, which is 42 cents more than Wall Street had expected.

Its revenue of $21.24 billion also easily topped analyst projections.

The Atlanta company, like others, is no longer giving forward-looking guidance because of the uncertainty caused by COVID-19 infections globally, which again are on the rise.

Shares slipped 1% before the opening bell Wednesday, as did shares of FedEx, among a much broader sell-off this week on U.S. markets.

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A portion of this story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UPS at https://www.zacks.com/ap/UPS