UPS’s stock rising to record high after beating housing profits and revenue as residential profits soar


United Parcel Services Inc., shares of UPS
+ 3.39%
Premarket trading rose 10.6% to record highs on Thursday, a second-quarter gain in revenue after package deliveries that emerged from the COVID-19 epidemic amid a huge increase in residential expectations and healthcare shipments. Net income increased to $ 1.77 billion, or $ 2.03 per share, to $ 1.69 billion, or $ 1.94 per share in the year-ago period. Excluding non-recurring items, adjusted earnings per share came in at $ 2.13, almost double the FactSet consensus of $ 1.07. Revenue grew by 13.6% to $ 20.7 billion, leading to FactSet’s consensus of $ 1.50.50 billion, as domestic package revenue increased by 1 package.3% to $ 13.06 billion, up from 11. Was 15 billion dollars. In the US, average daily volume increased by 22.8%, while demand for residential distribution increased, with business-to-consumer shipments rising 65.2%. The stock has gained 5.7% on Wednesday, while the Dow Jones Industrial Average DJIA,
+ 0.60%
7.0% has slipped.

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