UPS Inc. rode higher prices and strong delivery demand driven by e-commerce to post profit that topped analysts’ expectations. It also raised its operating margin outlook to 13% for 2021 from an earlier target of 12.7%.
UPS and rival FedEx Corp. have been grappling with hefty volume since the pandemic hit last year. Both have raised prices to offset the expense of handling more residential deliveries, which have grown faster than more-profitable commercial packages.
