UPS Earnings jump 33% in sign of Economic rebound.

[Dav8tor]

UPS Earnings Jump 33% in Sign of Economic Rebound


EARNINGS, UPS, TRANSPORATION, UNITED PARCEL SERVICES, ECONOMY,

Reuters
| 14 Apr 2010 | 06:22 PM ET

United Parcel Servicessaid its first quarter earnings per share would be much higher than it had expected and raised its outlook for the year, sending its shares up 4 percent in after-hours trading.
The firm reported after-the-bell on Wednesday that its adjusted first-quarter earnings were 71 cents per share, compared with an adjusted 52 cents per share a year earlier.
Analysts on average were expecting earnings of 57 cents per share, according to Thomson Reuters.
The results reflect an improving global economy that is strongest in Asia and Latin America, said Edward Jones analyst Dan Ortwerth.
"UPS has spent decades building up the business globally to take advantage of this, and here it is," Ortwerth said.
UPS is widely watched as an economic bellwether, because of its status as the world's biggest package delivery service.
The company said it could not give a total dollar figure for its earnings at this point.
Atlanta-based UPS raised its 2010 outlook to a range of $3.05 per share to $3.30 per share, up from February's forecast of $2.70 per share to $3.05 per share.
Shares of UPS rose more than 4 percent in extended trading from their $65.45 close on the New York Stock Exchange.
Shares of UPS rival FedEx were also higher after the report. Get after-hour quotes for UPS and FedEX here.
UPS's results were announced nearly two weeks ahead of the company's scheduled earnings release date.

 

[wickedride]

I guess those furloughs really paid off!!!!!! Hopefully buisness allows their recall and all the other guys on the street.
What a Ride,
Wickedride