Tuesday, October 29, 2013
UPS Delivers 9.4 Percent EPS Growth In 3Q
E-commerce Drives U.S. Domestic Results
International Export Daily Volume Grows 6.7%; Deferred products up 11%
SC&F Operating Profit Increased 6.9%,Operating Margin Expands to 8.9%
YTD: $4.6 Billion in Shareowner Distributions and $3.6 Billion in Free Cash Flow
Maintains Full-Year 2013 Adjusted EPS Guidance of $4.65 to $4.85
UPS announced diluted earnings per share of $1.16 for the third quarter of 2013, a 9.4% improvement over adjusted results for the same period last year. Total revenue was $13.5 billion, up 3.4% driven primarily by U.S. e-commerce shipments and strong European export growth.
For the three months ended Sept. 30, 2013, UPS delivered more than one billion packages worldwide, an increase of 4.6% over the prior-year period.
Daily package volume growth was led by International export and U.S. Domestic Ground, up 6.7% and 3.0%, respectively. Customers around the globe continue to seek lower cost solutions as demonstrated by the 11% jump in International deferred export products per day.
Last year, on a reported basis, third quarter diluted earnings per share was $0.48 as a result of an after-tax, non-cash charge of $559 million to restructure pension liabilities for certain employees.
"UPS is continuing to build global capabilities that position the company to meet the evolving supply chain needs of customers," said Scott Davis, UPS chairman and CEO. "We are making investments in emerging markets, healthcare distribution and our worldwide retail delivery models, ensuring that UPS delivers both the solutions customers require and the returns our shareowners expect."