UPS reports $17.1bn Q1 revenue
UPS has reported a revenue of $17.1bn for the first quarter (Q1) of 2018, up 10% on the previous year.
Net income was up 15% at $1.345bn, while earnings per share were up 17% at $1.55.
“Top-line growth in our business was strong across all business segments, reflecting the power of UPS’s global solutions and continued favorable economic conditions,” said UPS Chairman and CEO David Abney. “When combined with our transformation initiatives, these favorable trends position UPS for strong returns going forward.”
Revenue in the US Domestic segment was up 7.2% at $10.2bn. However profit was down from $950m to $756m, which UPS attributed to “headwinds from severe winter weather of $85m, Saturday deployment, network projects and higher pension expenses”.
Revenue in the International segment was up 15% at $3.533bn, and profit was up from $518m to $594m.
In the Supply Chain and Freight segment, revenue was up 16% to $3.4bn and operating profit was up 14% at $170m.
