The two firms will become independent publicly traded companies in 2015. The move follows pressure from investor Carl Icahn to spin off the payments ...
The parcel delivery company’s revenue rose 13.0% in the second quarter over last year.
Parcel delivery company United Parcel Service of America Inc. reported its overall package volume rose 3.5% in the second quarter compared to a year ago. U.S. volume rose 1.2%—the second straight quarter of growth after more than two years of declines.
For Q2 ended June 30, UPS reported:
- Average daily package volume rose 3.6% to 14.80 million, up from 14.28 million a year ago.
- Revenue of $12.2 billion, an increase of 13.0% from $10.8 billion a year ago.
- Net income of $845 million was up 89.9% from $445 million a year ago.
UPS’ U.S. package operation reported for Q2:
- Average daily volume of 12.62 million vs. 12.47 million, a 1.2% increase.
- U.S. next-day package volume was unchanged from a year ago with an average of 1.18 million packages per day. The average next-day air package cost to shippers rose 11.8% from $17.41 to $19.47.
- Revenue of $7.27 billion vs. $6.79 billion a year ago, a 7.1% increase.
- Net income of $748 million vs. $476 million a year ago, a 57.1% increase.
UPS’ international package operation reported for Q2:
- Average daily volume of 2.2 million vs. 1.8 million, a 22.2% rise.
- Revenue of $2.77 billion vs. $2.25 billion a year ago, up 23.1%.
- Net income of $521 million vs. $293 million, up 77.8%.
For the first half of 2010, UPS reported:
- Average daily package volume of 14.86 million vs. 14.41 million a year ago, a 3.1% increase.
- U.S. next-day package volume fell 2.6% from 1.19 million per day to 1.16 million per day. The average next-day air package cost to shippers rose 7.5% from $17.91 to $19.26.
- Revenue of $23.93 billion vs. $21.77 billion a year earlier, a 9.9% increase.
- Net income of $1.38 billion vs. $846 million a year earlier, a 63.1% increase.
"UPS fired on all cylinders in the second quarter even in the face of a mixed global economic environment," says CEO Scott Davis. "Thanks to superb execution, our U.S. domestic reorganization is producing better than expected results. Substantial growth in our international segment continues to outpace the market. It's clear the strategic direction we've set for the company is proving successful."