Shipping Company UPS Inclines Following 1Q Positive Outlook
Due to the optimistic outlook for the year ahead and the hopeful results of first quarter, the shares of UPS Inc. (United Parcel Service Inc.) the largest shipping company inclined in the premarket trading on Thursday.
It was stated that the full year gains were also projected positive because the company is shipping more packages internationally and that per package gains were also rising in the U. S. The shipping company has also predicted that the forwarding and logistics businesses will also witness growth.
It was disclosed by the UPS, late Wednesday that the first quarter per share profit for the company increased 33%. The complete results for the three months performance will be presented by the Atlanta based company on April
As compared to the earlier forecast of $2.70 to $3.05, the company is now hoping for full-year earnings of $3.05 to $3.30 per share.
However according to the analysts' prediction per share earnings were expected to be 57 cents per share averagely, stated Thomson Reuters. According to Edward Jones an analyst opined that results mirror the reviving global economy at its best in Asia and Latin America.