UPS Reports Higher 1Q Income

UPS Inc. Tuesday formally issued its first-quarter earnings statement, matching the increase it first released earlier this month, and said its sales rose 7.2%.

Its profit rose by about a third to $533 million, or 53 cents a share, from $401 million, or 40 cents, a year ago, UPS said, restating the earlier figure it first issued on April 15.

Revenue rose to $11.73 billion, from $10.94 billion a year earlier, the company said in a statement.

Less-than-truckload unit UPS Freight posted a 6% revenue gain driven by a 10% increase in revenue per hundredweight, the company said.

Its supply chain and freight unit’s revenue operating profit rose to $53 million, from $40 million, while revenue rose to $1.99 billion, from $1.75 billion.

Each business unit in the segment recorded revenue gains, with forwarding and logistics gaining 16%, and the logistics unit expanded its service parts logistics network to 89 cities in China.

UPS is ranked No. 1 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.