Ken James/Bloomberg News
Parcel carrier UPS Inc. said its third-quarter net income grew by 133%, primarily due to growth in e-commerce shipments in the United States and increased exports from Europe.
UPS, based in Atlanta, saw a $1.1 billion profit in the quarter, or $1.16 per share, compared with $469 million, or 48 cents, in the same quarter in 2012, the company said Oct. 25. Revenue grew 3.4% to $13.5 billion.
After adjusting for a $559 million charge related to restructuring some employees' pensions, the company's 2012 third-quarter profit was $1.03 billion, or $1.06 a share, and the 2013 quarter would represent a 6.7% increase in net income.
“UPS is continuing to build global capabilities that position the company to meet the evolving supply chain needs of customers,” Chairman and CEO Scott Davis said in a statement.