United Parcel Service Inc (NYSE:UPS) shares are trading higher Tuesday after the company reported better-than-expected financial results.
UPS said first-quarter revenue increased 6.4% year-over-year to $24.4 billion, which beat the $23.79 billion estimate. The company reported quarterly earnings of $3.05 per share, which beat the estimate of $2.88 per share, according to data from Benzinga Pro.
"The agility of our network and the continued execution of our strategy delivered another quarter of strong financial performance, putting us on our way to achieving our 2022 consolidated financial targets," said Carol Tomé, CEO of UPS.
UPS expects 2022 consolidated revenues to total about $102 billion. Consolidated adjusted operating margin is expected to be approximately 13.7%.
UPS also raised its targeted total share repurchases to $2 billion for 2022.
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UPS 52-Week Range: $174.70 - $233.72
The stock was up 1.56% at $192.60 at press time.
Photo: courtesy of UPS.
