Package delivery giant United Parcel Service, Inc. ( UPS
The Atlanta-based company reported first quarter net income of $533 million, or 53 cents per share, compared with $401 million, or 40 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 71 cents per share.
Revenue rose more than 7% from last year to $11.73 billion.
On average, Wall Street analysts expected a smaller profit of 69 cents per share, on lower revenue of $11.65 billion.
The company also reiterated its full-year profit forecast of $3.05 to $3.30 per share.
UPS shares were mostly flat in premarket trading Tuesday.
The Bottom Line
We have been recommending shares of UPS since Jan.8, when the stock was trading at $57.41. The company has a 2.74% dividend yield, based on last night's closing stock price of $68.52.
United Parcel Service, Inc. ( UPS ) is a "recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
Created by Dividend.com