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Before the opening bell on Tuesday morning, United Parcel Service (UPS ) reported its fourth quarter results, posting higher revenues and flat adjusted earnings compared to last year’s Q4 results.
UPS CEO David Abney had the following comments: “UPS customers were delighted with the high quality service we delivered during the holiday season. However, the financial results were below our expectations. As we move into 2015, we will address this disparity with both cost and revenue actions,” continued Abney. “We will take actions necessary to improve profitability by increasing operational efficiency and adjusting price where appropriate. Our growth strategy is sound and we reaffirm our long-term target of 9%-to-13% earnings per share growth.”
We expect UPS to announce a raise to its quarterly dividend in the coming week.
UPS stock was up 29 cents, or 0.29%, in pre-market trading. YTD, the stock is down 9.29%.