Delivering growth

The virus pandemic is loosening its grip on everyday life, but express shipping companies are still delivering big volumes as shoppers stick with virtual purchases.

Daily volume for UPS jumped

14% during the first quarter, despite an easing of restrictions that has allowed more people to forgo online shopping for actual store aisles. Investors rewarded the company’s stellar results by bumping its stock to an all-time high on April 27. Rival FedEx reported

similarly strong results back in March.

The stocks are outpacing the broader market.

The S&P 500 is up more than 11% so far this year, while UPS has gained more than

17% and FedEx has seen its stock value more than double.

Both companies reported volumes on par with holiday shopping seasons in pre-pandemic times. They don’t expect a slowdown anytime soon as online shopping continues to be popular even after some semblance of normal life returns. “While market conditions are likely at peak levels, we believe that UPS will

continue to benefit from tailwinds and self-help opportunities in the coming quarters,” said Fadi Chamoun, a BMO Capital Markets analyst in a note to investors.