UPDATE 3-UPS earnings, outlook rise; shares climb

* Q1 adjusted earnings $0.71/shr

* Sees 2010 per shr in range of $3.05 to $3.30

* UPS shares up 4.2 pct after-hours, FedEx up 1.9 pct

(Adds CSX, J.B. Hunt details)

NEW YORK, April 14 (BestGrowthStock) – United Parcel Service Inc
(UPS.N: ) said its first quarter earnings per share would be much
higher than it had expected and raised its outlook for the year,
sending its shares up 4 percent in after-hours trading.

The world’s biggest package delivery firm reported on
Wednesday that its adjusted first-quarter earnings were 71 cents
per share, compared with an adjusted 52 cents per share a year
earlier.

Analysts on average were expecting earnings of 57 cents per
share, according to Thomson Reuters I/B/E/S.

Revenue rose 7 percent, driven by significant growth in
international volume.

The results reflect an improving global economy that is
strongest in Asia and Latin America, said Edward Jones analyst Dan
Ortwerth.

“UPS has spent decades building up the business globally to
take advantage of this, and here it is,” Ortwerth said.

The company said it could not give a total dollar figure for
its earnings at this point.

Atlanta-based UPS raised its 2010 outlook to a range of $3.05
to $3.30 per share, up from February’s forecast of $2.70 to $3.05
per share.

The outlook’s midpoint of $3.18 is well above Wall Street’s
view of $2.95 per share for 2010.

Shares of UPS rose 4.2 percent to $68.20 in extended trading
from their $65.45 close Wednesday on the New York Stock Exchange.

Shares of UPS rival FedEx Corp (FDX.N: ) were up 1.9 percent in
after-hours trade.

Transport shares in general have risen this week as companies
have posted profit increases amid positive executive commentary.

On Tuesday, railroad operator CSX Corp (CSX.N: ) reported a 22
percent rise in profit [ID:nN13105229], sending shares up as much
as 4 percent on Wednesday, and J.B. Hunt Transport Services Inc
(JBHT.O: ) posted better-than-expected results on Wednesday due to
improvement at its intermodal segment [ID:nSGE63D0EE]. Its shares
were up 1.8 percent after-hours.

Stock Market Analysis

(Reporting by Helen Chernikoff; Editing by Tim Dobbyn, Phil
Berlowitz)

UPDATE 3-UPS earnings, outlook rise; shares climb