UPS Reports Higher First-Quarter Profit
UPS Inc. reported a higher first-quarter profit, led by a 19% gain in its supply chain and freight unit.
Net income rose 6% to $970 million, or $1 per share, from $915 million, or 91 cents a share, a year ago.
Revenue rose 4.4% to $13.14 billion, the company said Thursday.
Its supply chain and freight unit’s operating profit rose to $166 million, while revenue grew 1.3% to $2.71 billion.
The U.S. package segment’s operating profit rose 13% to $995 million, while revenue rose 6.1% to $8 billion
International package operating profit slipped to $408 million from $453 million, while revenue rose 2.3% to $2.97 billion.
The company maintained its full-year earnings guidance of $4.75 to $5 per share.
UPS is ranked No. 1 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
