UPS’ First-Quarter Earnings Climb 11% to $975 Million

Click here to write a Letter to the Editor.

PS Inc. said Thursday its first-quarter profit rose 11% to $975 million or 89 cents a share, from $882 million or 78 cents a year earlier.

img src="/sites/default/files/images/articles/newups.jpg" width=50 align=right>The earnings were at the high end of the company’s forecast of 85 cents to 89 cents per share for the quarter.

Revenue rose 17% to $11.5 billion, UPS said in a statement.

Domestic package revenue rose 9.6% to $7.5 billion, international package revenue rose 17.3% to $2.16 billion and UPS’ supply chain and freight segment revenue jumped 53.9% to $1.9 billion.

In February, UPS said it would continue its expansion in China, with plans for 22 new centers in that country this spring, and in early April said it had begun new flights from Shanghai, China, to Europe and the United States. (Click here for previous coverage.)

The company did not issue an earnings outlook for the second quarter.

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