UPS Profits Jump

As might be expected in today’s business climate, international business for the carrier climbed by 25.6% to $348 million, while domestic profits climbed nearly 13% to $1.03 billion. Net income for the Supply Chain Solutions group was up $123 million year-over-year to a total of $882 million. However, profits were not as vigorous since costs for integration of the company’s purchase of Menlo Worldwide Forwarding took a toll.

With Menlo in the fold, revenue for Supply Chain Solutions was up 86% to $1.23 billion, with freight services and logistics accounting for $1.12 billion of that total.

Internationally, Asian export volume grew by 36% overall, with export volume from China doubled. Overall, international package revenue was up 13% to $1.84 billion and profits up 25.6% to $348 million.

Domestically, although the average daily volume for the quarter was up just 0.1%, package revenues grew 2.8% to a total of $6.8 billion, with operating profits up 12.7% to $1.03 billion.

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