UPS Beats Q2 Expectations As Online Shopping Remains Strong

United Parcel Service (NYSE:UPS) beat Wall Street estimates for second-quarter revenue, helped by strong ecommerce deliveries, air shipments, and specialized handling of health-care products such as COVID-19 vaccines.

The parcel delivery company said its second-quarter revenue jumped to $23.42 billion U.S. from $20.46 billion U.S., beating estimates of $23.24 billion U.S., according to Refinitiv data.

The company’s adjusted earnings per share (EPS) rose 43.7% to $3.06 in the second quarter.

Analysts expect the company to benefit from sustained volume growth as people prefer to order items online rather than visit stores due to the continued spread of COVID-19 variants.

Under Chief Executive Officer Carol Tomé, UPS has been cutting costs and focusing on high margin packages under her company-wide "better-not-bigger" strategy.