UPS 3Q profit rises 5 percent
In this Oct. 19, 2011 photo, a UPS driver loads packages for delivery, in Scottsdale, Ariz. Credit: AP
UPS is holding onto its earnings expectations for the full year after reporting a 5 percent increase in third-quarter earnings.
The world’s largest package delivery company said Tuesday that its improving supply chain and freight business in the United States is offsetting slowing imports of gadgets and other expensive goods from Asia.
UPS still expects to earn between $4.15 and $4.40 per share this year. FactSet says analysts predict $4.23 per share. In the three months ended Sept. 30, the Atlanta company earned $1.04 billion, or $1.06 per share, compared with $991 million, or 99 cents per share, a year earlier.
Revenue rose 8 percent to $13.17 billion. Freight segment revenue rose 5 percent and U.S. domestic package revenue was up 7 percent. Despite slowing growth, international package revenue still rose 14 percent.
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