On Tuesday, United Parcel Service, Inc. (UPS) was up +2.58% to $160.29 as its revenues and adjusted net income rose markedly in the fourth quarter thanks to sharply increased demand for the company’s services amid the second wave of the pandemic. The company reported well-combined sales for the fourth quarter of 2020, up 21 percent to $24.9 billion, with growth in all divisions. Consolidated operating revenue rose 1.6 percent to $2.2 billion. On an adjustment basis, it also rose by 26 percent.
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Diluted EPS was $3.75 negative, but after adjustments EPS rose to $2.66 per share by 26 percent. UPS generated the highest net sales and earnings in any quarter over the year. The consolidated net loss every quarter was attributed to a $4.9 billion pension expense. Revenues, on the other hand, have been battered. A consensus of $2 billion, though adjusted EPS exceeded estimates by 52 cents per share.
Shares of tech giants Alphabet Inc. (GOOGL) and Amazon.com, Inc. (AMZN) risen after posting good quarterly reports in the extended hours trading after the ring of the bell on Tuesday. In regular session, Alphabet added +1.38% to close at $1919.12 while Amazon grew by +1.11% to $3380.
Pfizer Inc. (PFE) was slightly disappointed by -2.26% to $34.99 with its quarterly performance, reporting a profit below market estimates of 42 cents per share, compared to a consensus of 46 cents. Revenues amounted to 11.68 billion dollars, up from an estimated 11.4 billion dollars. The group is extremely optimistic in terms of prospects, particularly about $15 billion in revenue from Covid vaccines produced with BioNTech in Germany this year. The annual earnings per share outlook have been updated from $3.10 to $3.20, up from $3 to $3.1 previously. It is estimated that sales for 2021 will range between $59.4 billion and $61.4 billion.