UPS wins $970 million in first quarter
UPS, the largest courier company in the world, announced today that in the first quarter of 2011 earned $ 970 million, 6% more than the $ 915 million that was recorded on the same date a year ago, and that attributed to higher growth in the U.S. market.
The Atlanta-based company (Georgia) said through a press release from January to March last had a net gain of one dollar per share, compared to 91 cents per share to be scored in the same three months of 2011, slightly below analysts’ estimates.
Regarding income, the courier company scored 13.136 million dollars, 4.4% more than in the first quarter of 2011 when billed by 12.582 million dollars.
Its president and CEO Scott Davis said that during this time the company saw a rapid growth in demand related to electronic commerce and the light parcels.
The firm reported that from January to March 1000 million shipments delivered approximately, representing an increase of 4.3%.
UPS, which in March announced its intention to acquire the parcel company TNT Express, welcomed the quarterly results at a time of “changing market conditions.”
The firm said its U.S. revenues grew 6.1%, while internationally the upward progression was minor compared to the same date last year, the increase was 2.3%, due to the weakness in Asia and stronger returns in Europe and Mexico.
As for their forecast for the rest of the year, Chief Financial Officer Kurt Kuehn said it expected a profit per share in late 2012 between 4.75 to 5 dollars, an increase of between 9 to 15% compared to 2011.
Category: Money
