Parcel delivery company United Parcel Service of America Inc., which previously announced its domestic package volume grew in the first quarter for the first time in more than two years, today reported a 2.7% rise in average daily package volume for the first quarter versus a year ago, a 7.2% jump in revenue and a 32.9% increase in net earnings.
For Q1 UPS reported:
- Average daily package volume of 14.93 million, a 2.7% increase from 14.54 million a year ago.
- Revenue of $11.73 billion, a 7.2% increase from $10.94 billion a year ago.
- Net income of $533 million, a 32.9% increase from $401 million a year ago.
UPS’ U.S. package operation reported for Q1:
- Average daily volume of 12.73 million, up .04% from 12.68 million.
- Revenue of $7.10 billion, a 2.2% increase from $6.95 billion a year ago.
- Operating profit of $562 million, up 46.4% from $384 million a year ago.
U.S. ground packages, which accounted for 10.68 million a day, or 83.9% of U.S. packages, were up .08% from a year ago, while the average cost per package in the U.S. was up 1.8%—$8.86 versus $8.70.
“In the first quarter we realized the benefits from the hard work we have been doing to streamline our operations,” says Kurt Kuehn, chief financial officer. “First quarter results exceeded our expectations and set a strong foundation for the rest of 2010. We expect first quarter trends to continue through the year, producing revenue growth and additional operating leverage.”