UPS Stock Rallies 7% After Revenue and Earnings Beat

United Parcel Service (NYSE: UPS) announced an earnings per share of $3.59 before the bell on Tuesday, with revenue coming in at $27.8 billion.

The numbers reported beat analyst expectations of an EPS of $$3.10 and revenue of $27.06 billion. In addition, revenue was 11.5% above the fourth quarter of 2020.

In reaction to the report UPS’ share price has risen just under 7% to $216.25 premarket following Monday’s close at the $202.21 level.

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“I want to thank all UPSers for their outstanding efforts throughout the holiday season and for once again delivering industry-leading service to our customers.” said Carol Tomé, UPS CEO.

“The execution of our strategy is delivering positive financial results and driving strong momentum as we move into 2022.”

UPS, one of the world’s biggest package delivery companies, said it sees full-year 2022 consolidated revenue of about $102 billion, above the $100.01 billion consensus.

UPS also declared a first-quarter dividend of $1.52 per share.