UPS’ Third-Quarter Profit Rises
UPS Inc.’s third-quarter profit rose to $1.04 billion, or $1.06 per share, from $991 million, or 99 cents, a year ago, the company said Tuesday.
Revenue rose 8% to $13.2 billion, and UPS reiterated its full-year earnings forecast of $4.15 to $4.40 per share.
The supply chain and freight unit’s operating profit rose more than 10% to $195 million, as revenue rose 5.3% to $2.34 billion.
Less-than-truckload unit UPS Freight’s revenue rose about 15%, with a slight decline in daily shipments but increases in LTL revenue per hundredweight.
Forwarding and logistics, also within supply chain and freight, had a 1% increase in revenue to $1.55 billion.
The domestic U.S. package unit’s operating profit held at $1.02 billion, with revenue growth of 6.5% to $7.77 billion. Volume growth was flat as a result of the sluggish economy but next-day air volume rose 10%.
The international package unit’s operating profit dipped to $409 million from $419 million, while revenue jumped 14% to $3.06 billion, driven by an export volume growth of 6.5%.
UPS is ranked No. 1 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
