UPS Profit Tops Estimates on Pricing, E-Commerce Strength
- Courier’s revenue per package jumped 13% in third quarter
- Shares jump as much as 8% to record high on strong results
A customer enters a UPS store in San Francisco, California, U.S.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
United Parcel Service Inc. rode higher prices and strong delivery demand driven by e-commerce to post profit that topped analysts’ expectations.
UPS and rival FedEx Corp. have been grappling with hefty volume since the pandemic hit last year. Both have aggressively raised prices to offset the expense of handling more residential deliveries, which have grown faster than more-profitable commercial packages.