UPSÆ profit up 8% in second quarter
UPS today reported a second quarter net income of $1.06 billion, up 7.6 percent from $986 million a year ago.
'Our global small package volume growth in the second quarter was robust, resulting in a solid earnings gain,' said Mike Eskew, UPS' chairman and chief executive officer, in a statement. 'The global small package market continues to expand and we are seeing significant opportunities for UPS.'
UPS's operating profit in the second quarter rose 9.4 percent to $1.7 billion compared to $1.5 billion for the prior-year period. Revenue increased 15.2 percent to $11.7 billion from $10.2 billion.
Total average daily package volume worldwide rose 6 percent, or by 841,000 packages per day to 14.97 million, compared to the same 2005 period. Average daily U.S. domestic ground volume increased 4.6 percent to 11.6 million with revenue improving 7.5 percent to $7.5 billion. Domestic operating profit gained 10.4 percent to $1.2 billion.
Total international package volume grew 16.5 percent with export volume up 6.5 percent.
For the first half of the year, UPS' net income increased 9 percent to $2 billion. Operating profit went up 10.8 percent to $3.3 billion. Operating revenue was $23.3 billion, up 15.8 percent.
UPS? profit up 8% in second quarter
