UPS has profitably delivered nearly 200 million COVID-19 vaccine doses around the world

United Parcel Service Inc. didn’t provide details on Tuesday on how much money it made during the first quarter from delivering COVID-19 vaccines, except to say that segment is profitable. “We do make money on vaccines as you can appreciate, principally because of the value-added attributes to the vaccines,” said Chief Executive Carol Tomé in the post-earnings conference call with analysts, according to a FactSet transcript. She added that progress with the global vaccine rollout is a key reason that forecasts for an economic recovery are moving higher, which helps boost the outlook for UPS. She said as of last week, UPS had delivered more than 1.1 million shipments, with about 196 million vaccine doses, to about 50 countries and territories, and achieved a “near-perfect” on-time delivery — 99.9% — with those deliveries. UPS stock, which soared 11.2% in afternoon trading after blow out first-quarter results reported before the open, has now run up 90.6% over the past 12 months, while the Dow Jones Transportation Average has hiked up 84.1% and the Dow Jones Industrial Average has climbed 40.7%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.