"UPS soars after earnings blowout, FedEx gains as well" Apr. 27, 2021 7:20 AM ET
* UPS (NYSE:UPS) shoots higher after posting a strong Q1 report.
* Revenue jumped 27% Y/Y during the quarter to $22.91B and consolidated operating profit was 158% higher to $2.8B.
* Total volume was up 14.3% during the quarter.
* The U.S. domestic segment saw a 22.3% increase in revenue, led by growth from small and medium-sized businesses. Revenue per piece increased 10.2% in the U.S., driven by ground products.
* CEO update: "During the quarter, we continued to execute our strategy under the better not bigger framework, which enabled us to win the best opportunities in the market and drove record financial results."
* Looking ahead, UPS expects capital expenditures of about $4.0B this year and has no plans to buy back shares.
* Shares of UPS are up 6.94% premarket to $188.01. Rival FedEx (NYSE:FDX) is 2.98% higher. to $282.91."
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