UPS’ 2Q Profit Tops $1 Billion
UPS Inc. said Tuesday its second-quarter net income rose 4.1% to $1.1 billion or $1.04 per share, from $1.06 billion or 97 cents a year ago.
Revenue rose to $12.2 billion from $11.7 billion a year ago, the company said in a statement.
International export revenue jumped 14% on double-digit volume growth, while its less-than-truckload revenue climbed 10.5% on a 12% increase in shipments.
The company’s domestic package operating profit dipped to $1.19 billion from $1.23 billion, while revenue edged up to $7.58 billion from $7.46 billion.
Ground volume was flat, reflecting declining growth rates in both industrial production and business-to-consumer shipments, UPS said.
The supply chain and freight unit’s operating profit more than doubled to $98 million from $47 million, while revenue rose to $2.11 billion from $2.04 billion.
International package operating profit rose to $475 million from $414, while revenue increased to $2.5 billion from $2.23 billion.
UPS is ranked No. 1 on the 2007 Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
