World News – US – UPS profits increase 12% as pandemic boosts door-to-door deliveries


United Parcel Service exceeded profit expectations on Wednesday, thanks to increased door-to-door deliveries due to COVID-19 pandemic

Average daily volumes in the United States increased 138% on continued strength in residential demand, the company said

« Our results were fueled by strong outbound demand from Asia and the growth of small and medium-sized enterprises, » said Carol Tomé, managing director, in a statement

Last month, the company announced it would hire more than 100,000 workers for the winter holiday season, as retailers work to avoid overloading an already taxed delivery network with purchases online fueled by a pandemic

Net income rose to about $ 2 billion, or $ 224 per share, in the quarter ended September 30, from $ 1.75 billion, or $ 2.01 per share, a year earlier

Excluding items, UPS gained $ 2.28 per share, beating analysts’ average estimate of $ 1.90 per share, according to Refinitiv data

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United Parcel Service, Profits

World news – United States – UPS profits rise 12% as pandemic boosts door-to-door deliveries



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