UPS Posts Record Quarter, Gains in All Segments
July 20, 2000
Increased volume and market share growth gave UPS record financial performance for the second quarter of 2000.
The company posted revenues of $7.3 billion, up 11% from $6.6 billion reported for second quarter 1999. Net income was $695 million, up 18.2% from a year ago.
The company’s global package delivery volume averaged 14.2 million pieces a day, a 6.7% gain over second quarter 1999’s average 12.4 million pieces. UPS’s ground volume rose 5.4%, to an average 10.1 million packages a day. International export volume climbed 23% and UPS Next Day Air volume in the U.S. rose 10%.
For the first six months of the year, consolidated revenue was $14.5 billion, up 12.5% from the same period in 1999. Excluding certain non-recurring items from both periods, net income totaled $1.4 billion for the first half of 2000 versus $1.1 billion in 1999.
UPS said that, effective Aug. 7, it will implement a temporary 1.25% fuel surcharge since fuel prices have not moderated as projected earlier in the year.