UPS reports increase in revenues, profit
UPS reported higher third quarter earnings and revenue, and said it saw “significant improvement in the supply chain and freight segment and good gains in its international business.”
Net profit for the three months ended Sept. 30 was up 3.7 percent to $1.07 billion, up from $1.04 billion in the year-earlier quarter. Revenue improved 4.7 percent to $12.21 billion from $11.66 billion.
The company’s three main business segments — U.S. domestic package, international package and supply chain and freight — all posted increases in operating profit and revenue over the comparable quarter last year.
Domestic package increased operating profit rose 1.7 percent to $1.23 billion, on revenue of $7.55 billion, up 1.9 percent. Domestic volume improved nearly 1 percent while revenue per piece was firm, and ground package revenue per piece rose 2.4 percent.
International package operating profit jumped 10.6 percent to $428 million, as revenue increased 12.4 percent to $2.53 billion. Export volume fell 9.3 percent. UPS said 'double-digit gains in both Europe and Asia were offset somewhat by mid single-digit growth in U.S. export volume.
Supply chain and freight recorded operating profit of $52 million, compared to an operating loss of $19 million in the third quarter of 2006, while revenue rose 6.1 percent to $2.13 billion. Forwarding and logistics revenue rose 4.7 percent to $1.49 billion. Less-than-truckload revenue increased 12.1 percent to $521 million, while shipments increased 13.3 percent.
UPS reports increase in revenues, profit
