Transportation Industry
International Business Lifts UPS Third-Quarter Income
Transport Topics, October, 2004 by Gilroy, Roger
Package Carrier Says It May Reinstitute Fuel Surcharges on Ground Delivery
Package-delivery giant UPS Inc. reported a surge in international business that lifted third-quarter net income 20.4% to $890 million or 78 cents a share, up from $739 million or 65 cents a year earlier.
The average estimate by stock analysts was 72 cents a share. Quarterly revenue rose to $8.95 billion from $8.31 billion a year ago.
The volume of international packages handled for export rose by 13.2% while international operating profits soared 48.8% to $262 million, the Atlanta-based company said.
"More and more of our customers are becoming global" with needs ranging from package deliveries to third-party logistics services, UPS Chief Financial Officer Scott Davis said Oct. 21 on a...
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