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UPS Growth Story Lives OnPosted by Randy on: 2005-10-20 08:37:39 in category:
Investments [ Print | Permalink / 0 Comment(s) ] UPS Growth Story Lives On By Ross Snel TheStreet.com Staff Reporter 10/20/2005 9:43 AM EDT Click here for more stories by Ross Snel UPS (UPS:NYSE - commentary - research - Cramer's Take) reported earnings growth that was in line with Wall Street's forecasts as worldwide package volume continued to rise, and the company offered bullish 2006 guidance. The world's largest parcel shipper said it earned $953 million, or 86 cents a share, matching the average third-quarter analyst estimate from Thomson First Call. A year before, UPS earned $890 million, or 78 cents a share. 1. Just Ahead: Dow 40,000? 2. Sea Change at Nortel 3. Mad Money Mailbag: Finding Free Cash Flow 4. Pfizer's Future Is Now 5. Biotech Ready to Deliver Revenue for the quarter was $10.55 billion, up 17.9% from $8.95 billion a year earlier and slightly higher than the $10.39 billion analyst consensus. In early trading ahead of the regular New York session, shares rose $1.27, or 1.8%, to $70.83. "This has been a great quarter of growth for UPS," said Mike Eskew, the company's CEO. "We have tremendous momentum right now in the U.S. and around the world and we see it continuing." The Atlanta-based company said average daily package volume in the U.S. increased 4%, outpacing broader economic growth. The increase was driven by a 6.1% jump in express air packages, but also benefited from a 3.6% rise in the average daily volume of packages shipped on the ground. For the full year, the company expects to meet its previously stated goal of an 18% to 20% increase in diluted earnings per share compared with the adjusted $2.90 reported in 2004. That implies an EPS range of $3.42 to $3.48. On average, analysts expect full-year earnings of $3.47. Looking ahead to 2006, UPS expects an 11% to 16% increase in diluted earnings per share from this year's. That points to a profit of $3.80 to $4.04, vs. the existing analyst consensus of $3.87. Business open community website http://www.business-business.biz Submit articles http://www.business-business.biz/submitstory.php Retirement forum http://www.business-business.biz/forums.php Retirement open community website http://www.retirement-retirement.com Submit articles http://www.retirement-retirement.com/submitstory.php Retirement forum http://www.retirement-retirement.com/forums.php Investment open community website http://www.investment-investment.us Submit articles http://www.investment-investment.us/submitstory.php Investment forum http://www.investment-investment.us/forums.php |
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