Tag: UPS

United Parcel Service, the world’s largest shipping carrier, reported a nearly 28% jump in third-quarter profit on strong revenue, citing better domestic business, particularly in next-day air volume. The results beat Wall Street expectations.

Atlanta-based UPS said it earned $739 million, or 65 cents a share, for the three months ending Sept. 30, compared with a profit of $578 million, or 51 cents a share, for the same period a year ago.

Net income at United Parcel Service jumped 28% in the third quarter to $739 million, up from $578 million a year ago. Revenue was up 7.2% to $8.3 billion, compared with $7.8 billion.

The Atlanta-based logistics provider attributed the gains to a strengthening U.S. package business and record performances by its international and non-package businesses, as well as the sale of its aviation technology business and a favorable tax ruling.

UPS has reported a 28% jump in net income for the third quarter thanks to a strengthening U.S. package business, record performances by both the international and non-package segments and two other modest gains.

Earnings per diluted share increased 27% to US$0.65 from US$0.51 last year, including gains due to the sale of a business unit and a favorable tax ruling. Without these items, earnings per diluted share were US$0.62, up 22% compared to the prior year.