UPS delivers strong 3Q results
Atlanta, October 27, 2014 (STAT):-UPS announced diluted earnings per share of $1.32 for the third quarter 2014, a 13.8% improvement over the prior year period. Operating profit increased 8.3%, resulting from balanced growth across all three segments. The company announced its expectations for the upcoming holiday season as well. UPS expects shipments delivered during the month of December to climb 11% over the prior year. As previously declared, the company committed an additional $175 million in operating expense and $500 million in capital expenditures to enhance its capabilities and prepare the network for peak and future volume growth.
"It's encouraging to see all the segments show positive momentum, as we head into our busiest time of year. We expect another robust peak season and are confident our network is prepared to operate at the highest level. As a result, we are reiterating our expectations for adjusted diluted earnings per share to be in a range of $4.90 to $5.00, a 7-to-9% increase over 2013 adjusted results." said Kurt Kuehn, UPS chief financial officer.
Daily packages in the U.S. were 6.9% higher as demand from both B2C and B2B customers improved. International Export shipments increased 9.4% with strong growth in both Asia and Europe. UPS delivered 1.1 billion packages around the world, up 6.9% over the third quarter 2013.
"The solid performance we delivered this quarter establishes our ability to stay ahead of market growth and generate positive operating leverage," said David Abney, UPS chief executive officer. "We continue making investments in technology and expanding our capabilities around the world to ensure we provide the long-term solutions customers demand."