UPS reaches handshake agreement with Teamsters on new national master agreement

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UPS’s stock rallies after profit and sales rise above expectations

Shares of United Parcel Service Inc. rose 1.2% in premarket trade Thursday, after the package delivery service beat profitand revenue expectations. Net income rose to $1.35 billion, or $1.55 a share, from $1.17 billion, or $1.33 a share, in the same period a year ago. The FactSet earnings-per-share consensus was $1.54. Revenue rose 10% to $17.11 billion, above the FactSet consensus of $16.48 billion, as domestic package revenue growth of 7.2% to $10.23 billion topped expectations of $10.13 billion and the international package revenue increase of 15% to $3.53 billion beat expectations of $3.37 billion. For 2018, the company expects adjusted EPS of $7.03 to $7.37, surrounding the FactSet consensus of $7.25. The stock has lost 8.8% year to date through Wednesday, while the Dow Jones Transportation Average has slipped 1.0% and the Dow Jones Industrial Average has declined 2.6%.

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