UPS releases 3Q15 results
OCT 30, 2015: UPS announced third quarter 2015 diluted earnings per share of $1.39, a 5.3 percent increase over the same period last year. International operating profits were up more than 10 percent to $507 million, driving company-wide results higher. Currency exchange rates and lower fuel surcharges reduced total revenue slightly to $14.2 billion. On a currency-neutral basis revenue grew 1.8 percent. Revenue management initiatives across the business resulted in base rate improvements. The company completed the acquisition of Coyote Logistics during the quarter. The addition of this asset-light, truckload brokerage firm provides expanded capabilities for UPS. Coyote is expected to create more than $100 million of synergies. “Third quarter results reflect strong progress on our long-term initiatives despite uneven economic conditions,” said David Abney, UPS chief executive officer. “We remain committed to these strategies to support customers and improved shareowner value.” Total company shipments increased 1.9 percent over the third quarter last year to 1.1 billion packages, led by U.S. air products and European transborder shipments.