United Parcel Service said shipment demand across the board – from both its domestic and international operations – helped fuel a 71% increase in
United Parcel Service said shipment demand across the board – from both its domestic and international operations – helped fuel a 71% increase in second quarter earnings this year.
UPS said operating profits climbed to $1.4 billion on overall revenues of $12.2 billion in the second quarter this year, compared to $895 million and $10.8 billion, respectively, in the same period last year.
More importantly, operating margins increased to 11.5% in the second quarter versus 8.3% in the second quarter of 2009, even though volume only increased slightly, coming in at 14.8 million packages per day versus 14.3 million, respectively.
The company noted that its TL arm, UPS Freight, returned to profitability in the second quarter as revenue grew 10% over the same period last year, driven by improved yield and higher weight per shipment.
“We experienced strong revenue growth across the board, with substantial margin expansion in our U.S. and International segments,” noted Kurt Kuehn, UPS CFO.. “Despite the anticipated slow pace of the U.S. recovery and a cautious outlook for Europe, we are confident in our ability to grow the business and improve profits. Therefore we are raising our full year 2010 guidance with expected adjusted earnings growth of 45% to 50% per share.”
United Parcel Service said shipment demand across the board – from both its domestic and international operations – helped fuel a 71% increase in second quarter earnings this year.
UPS said operating profits climbed to $1.4 billion on overall revenues of $12.2 billion in the second quarter this year, compared to $895 million and $10.8 billion, respectively, in the same period last year.
More importantly, operating margins increased to 11.5% in the second quarter versus 8.3% in the second quarter of 2009, even though volume only increased slightly, coming in at 14.8 million packages per day versus 14.3 million, respectively.
The company noted that its TL arm, UPS Freight, returned to profitability in the second quarter as revenue grew 10% over the same period last year, driven by improved yield and higher weight per shipment.
“We experienced strong revenue growth across the board, with substantial margin expansion in our U.S. and International segments,” noted Kurt Kuehn, UPS CFO.. “Despite the anticipated slow pace of the U.S. recovery and a cautious outlook for Europe, we are confident in our ability to grow the business and improve profits. Therefore we are raising our full year 2010 guidance with expected adjusted earnings growth of 45% to 50% per share.”
second quarter earnings this year. UPS said operating profits climbed to $1.4 billion on overall revenues of $12.2 billion in the second quarter this year, compared to $895 million and $10.8 billion, respectively, in the same period last year. More importantly, operating margins increased to 11.5% in the second quarter versus 8.3% in the second quarter of 2009, even though volume only increased slightly, coming in at 14.8 million packages per day versus 14.3 million, respectively. The company noted that its TL arm, UPS Freight, returned to profitability in the second quarter as revenue grew 10% over the same period last year, driven by improved yield and higher weight per shipment. “We experienced strong revenue growth across the board, with substantial margin expansion in our U.S. and International segments,” noted Kurt Kuehn, UPS CFO.. “Despite the anticipated slow pace of the U.S. recovery and a cautious outlook for Europe, we are confident in our ability to grow the business and improve profits. Therefore we are raising our full year 2010 guidance with expected adjusted earnings growth of 45% to 50% per share.”
