Investing.com - Global shipping giant United Parcel Service (N:UPS) reported better than expected fourth quarter earnings ahead of Tuesday’s opening bell, despite missing on revenue figures.
UPS said that adjusted earnings per share came in at $1.57, above expectations for earnings of $1.42 per share.
The company’s fourth quarter revenue totaled $16.05 billion, missing forecasts for revenue of $16.20 billion, as currency exchange rates and lower fuel surcharges weighed.
U.S. domestic revenue of $10.27 billion, beat forecasts for sales of $10.0 billion, while international revenue totaled $3.18 billion.
UPS delivered 1.3 billion packages during the fourth quarter, an increase of 1.8% over the same period last year. For calendar year 2015, the company delivered 4.7 billion packages, up 2.1% over 2014. During peak season 2015, UPS delivered 612 million packages.
The company's guidance for 2016 full-year diluted earnings per share is $5.70 to $5.90, an increase of 5% to 9% over adjusted 2015 results.
UPS CEO David Abney and CFO Richard Peretz will discuss third quarter results with investors and analysts during a conference call at 8:30AM ET.
Following the release of the report, shares in UPS rose 2.89%, or $2.72, in pre-market trade to $96.80 from a closing price of $94.08 on Monday.
Meanwhile, U.S. stock futures pointed to a lower open. The blue-chip Dow futures shed 102 points, or 0.62%, the S&P 500 futures dipped 13 points, or 0.66%, while the tech-heavy Nasdaq 100 futures fell 29 points, or 0.67%.