UPS quarterly profit off 2.1% to USD 1.7 billion, but sales rise 6.3%
United Parcel Service (UPS) posted 2.1% first quarter year-on-year operating profit decline to USD 1.78 billion, drawn on revenues of USD 15.31 billion, which increased 6.3%.
The Atlanta-based company was pleased that it had improved earnings per share by 3.9% versus the same period in 2016.
The company said in statement "The improved per-share result was due to a 22% 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.”
"Revenue came in strong this quarter with all segments adding to the topline,” said UPS chairman, president and CEO David Abney.
David Abney said that the company was accelerating investments to create the "industry's leading smart global logistics network.
He said that "UPS customers are benefitting from expanded capacity, choice and improved time-in-transit, while technology solutions continue to deliver efficiencies.”
Tag Keyword: United Parcel Service , Revenues , Logistics Network , Technology Solutions