UPS reports “record first quarter results”
UPS has announced that it has achieved “record first quarter results” which were “driven by both the U.S. Domestic and International small package segments”. Total revenue was $14.4bn, up 3.2% over the same quarter last year – even though growth was slowed by lower fuel surcharges and currency exchange rates.
US Domestic operating profit increased 7.6% to $1.1bn, and revenue increased 3.1% to $9.1bn.
International operating profit jumped by more than 15% to $574m, although revenue was down by 1.9%.
Supply Chain and Freight revenue increased by more than 10% to $2.4bn, which UPS said was “mainly due to the acquisition of Coyote Logistics in the third quarter of last year”.
Commenting on the results, David Abney, UPS chairman and CEO, said: “We continue to execute well in all areas of our long-term enterprise strategy.
“The combination of revenue growth and benefits from our accelerated investments generated strong financial results in the quarter.”
