UPS Reports Second-Quarter Income, Revenues Increase
PS Inc. reported Thursday that its net income rose to $986 million or 88 cents a share, up from $818 million or 72 cents a year earlier.
The earnings topped analysts’ expectations of 86 cents a share, Bloomberg reported.
Revenue rose 14.9% to $10.19 billion, the company said in a statement. UPS is ranked No. 1 on the Transport Topics 100 listing of the largest U.S. and Canadian for-hire carriers.
U.S. domestic package revenue grew 5.7% to $6.94 billion, on 3.2% volume growth. Operating profit rose 13.2% to $1.12 billion. Pricing remained firm within an increase in average revenue per piece of 2.4%, UPS said.
International package revenue rose 22.7% to $2 billion, with operating profit rising 41.3% to $397 million. Export volume grew 18.2%, led by Asian export volumes of 39.5%.
UPS’ supply chain segment’s revenue rose 84.9% to $1.25 billion, primarily through its acquisition of Menlo Worldwide Forwarding in December, the company said. (Click here for previous coverage.)
