Investing.com - Shares of United Parcel Service (NYSE:UPS) rallied in premarket trade on Thursday, after the world’s largest delivery company raised its full-year earnings outlook for the year.
The Atlanta-based company raised its earnings guidance for the year to a range between $7.45 and $7.75 from a previous range of $7.03 to $7.37 per share.
“Our diverse portfolio, global footprint and flexible network position UPS for profitable growth in 2019 and beyond,” said David Abney, UPS chairman and CEO.
For the fourth-quarter, UPS reported earnings per share of $1.94, above estimates of $1.91.
“We achieved our 2018 adjusted earnings-per-share goal by successfully executing Transformation investments and initiatives that lifted revenue quality and improved efficiency,” Abney said.
Revenue totaled $19.85 billion, missing forecasts of $20.0 billion.
The company said revenue at its U.S. package services rose 6.3% in the fourth quarter, with growth across all products, while revenue at its international package segment increased 2.9%.
“Our International segment produced record results highlighted by double-digit profitability in Europe,” said Abney.
UPS shares jumped 5.8% in premarket trade to $107.06.
United Parcel Service follows other major Transportation sector earnings this month
On January 24, Union Pacific reported fourth quarter EPS of $2.12 on revenue of $5.76B, compared to forecasts of EPS of $2.06 on revenue of $5.74B.
Canadian National Railway earnings beat analyst's expectations on Tuesday, with fourth quarter EPS of $1.49 on revenue of $3.81B. Investing.com analysts expected EPS of $1.1 on revenue of $3,793M
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