UPS reports Q2 revenue of $15.75bn
UPS has today (27 July) reported a second quarter (Q2) 2017 revenue of $15.75bn, up from $14.629bn last year, and an operating profit of $2.216bn, up from $2.038bn. “UPS generated great year-over-year revenue gains in the second quarter and we produced solid earnings per share growth, consistent with our plans,” said David Abney, UPS chairman and CEO. “We continue to invest in our network to expand our capabilities, our market presence and our global reach.”
Richard Peretz, UPS chief financial officer, said the Q2 results were “in line with expectations”and the company was “pleased with the progress” on its strategic initiatives.
The US Domestic Segment saw revenues jump by more than 8% to $9.745bn, as e-commerce drove up demand for UPS Air and Ground services. Operating profit was also on the up, from $1.233bn to $1.395bn.
Increased demand for cross-border shipments saw revenues for the International Segment climb from $3.077bn to $3.163bn. In its statement about the Q2 results, UPS flagged up its recent alliance with the Chinese logistics company S.F. Express and its acquisition of Ireland-based Nightline Logistics.
More to follow.
