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UPS quarterly profit off 2.1pc to US$1.7 billion, but sales rise 6.3pc
US express delivery giant United Parcel Service (UPS) posted 2.1 per cent first quarter year-on-year operating profit decline to US$1.78 billion, drawn on revenues of $15.31 billion, which increased 6.3 per cent.
The Atlanta-based company was pleased that it had improved earnings per share by 3.9 per cent versus the same period in 2016.
"The improved per-share result was due to a 22 per cent increase in supply chain and freight segment operating profit, strong underlying performance in the international segment and solid results in the domestic segment, plus the favourable tax impact of adopting the new stock compensation accounting standard," said the company statement.
Said UPS chairman, president and CEO David Abney: "Revenue came in strong this quarter with all segments adding to the topline."
He said the company was accelerating investments to create the "industry's leading smart global logistics network.
"UPS customers are benefitting from expanded capacity, choice and improved time-in-transit, while technology solutions continue to deliver efficiencies," he said.
The Atlanta-based company was pleased that it had improved earnings per share by 3.9 per cent versus the same period in 2016.
"The improved per-share result was due to a 22 per cent increase in supply chain and freight segment operating profit, strong underlying performance in the international segment and solid results in the domestic segment, plus the favourable tax impact of adopting the new stock compensation accounting standard," said the company statement.
Said UPS chairman, president and CEO David Abney: "Revenue came in strong this quarter with all segments adding to the topline."
He said the company was accelerating investments to create the "industry's leading smart global logistics network.
"UPS customers are benefitting from expanded capacity, choice and improved time-in-transit, while technology solutions continue to deliver efficiencies," he said.
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