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UPS had a great performance in Q3

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Miguel A. Rodriguez
Miguel A. Rodriguez
28 October 2020
UPS reported Q3 earnings today. COVID pandemic made home deliveries increase in the past quarter

UPS’s net income figures came in at $2.2 billion or $2.24 a share. Both numbers topped the $1.75 billion, or $2.01 per share consensus. From last year’s $18.32 billion revenue, the current one was $21.24 billion, increased by a spur of home deliveries during the pandemic.

To prepare for the upcoming winter season, UPS announced that it is looking to hire over 100,000 people to avoid an upcoming exhaustive period.

For the future, UPS didn’t provide any outlook given the uncertainty caused by the pandemic. However, Brian Newman UPS CFO’s statement read, “looking ahead to the fourth quarter, we are collaborating with our customers and using our proven tools to control volume and ensure the resiliency of our network. We are focused on delivering a successful peak and generating cash returns.”

But like Microsoft and 3M, the market reacted negatively despite the positive results. Following the announcement, UPS stock price lost more than 1%.

Read here and here about how Microsoft and 3M have performed in the past quarter!

Sources: investing.com, finance.yahoo.com

The information presented herein is prepared by capex.com/ae and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only.Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience, or current financial situation. 

Key Way Markets Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.