United Parcel Service Inc UPS is trading higher Tuesday morning after the company announced better-than-expected fourth-quarter financial results and issued guidance above estimates.
UPS reported quarterly adjusted earnings of $3.59 per share, which beat the $3.10 estimate. The company reported quarterly revenue of $27.8 billion, which beat the estimate of $27.06 billion.
"The execution of our strategy is delivering positive financial results and driving strong momentum as we move into 2022," said Carol Tomé, CEO of UPS.
UPS expects full-year 2022 revenue to be approximately $102 billion, which is above the estimate of $100.01 billion.
UPS also raised its quarterly dividend from $1.02 per share to $1.52 per share. The dividend is payable on March 10 to shareowners of record on Feb. 22.
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UPS Price Action: UPS has traded as low as $154.76 over a 52-week period. It's making new 52-week highs today.
The stock was up 9.14% at $220.70 at time of publication.
Photo: Takahiro Nagao from Flickr.
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