UPS, Atlanta, Ga., reported third quarter revenues rose 7.7% and net income increased 20.4%.
Total worldwide average daily volume increased by 445,000 packages per day to 13.7 million, a 3.4% increase. Total international export package volume grew 13.2%, while UPS Supply Chain Solutions posted strong growth with revenue up 10.1%.
"The reach and reliability of our global package delivery network is unmatched and we're attracting new business as a result," said Scott Davis, UPS's chief financial officer. "We're seeing double-digit export growth in every region of the world with strong profit increases to match."
The CFO also said UPS continues to generate substantial positive cash flow and the Board of Directors has increased the company's share repurchase authorization to $2 billion.
For the three months ended Sept. 30, consolidated revenue totaled $8.95 billion, up 7.7% compared to the $8.31 billion reported during the prior-year period. Consolidated operating profit rose 9.7% to $1.26 billion. Net income for the quarter was $890 million compared to $739 million reported for the same period in 2003.
Total worldwide average daily volume increased by 445,000 packages per day to 13.7 million, a 3.4% increase. Total international export package volume grew 13.2%, while UPS Supply Chain Solutions posted strong growth with revenue up 10.1%.
"The reach and reliability of our global package delivery network is unmatched and we're attracting new business as a result," said Scott Davis, UPS's chief financial officer. "We're seeing double-digit export growth in every region of the world with strong profit increases to match."
The CFO also said UPS continues to generate substantial positive cash flow and the Board of Directors has increased the company's share repurchase authorization to $2 billion.
For the three months ended Sept. 30, consolidated revenue totaled $8.95 billion, up 7.7% compared to the $8.31 billion reported during the prior-year period. Consolidated operating profit rose 9.7% to $1.26 billion. Net income for the quarter was $890 million compared to $739 million reported for the same period in 2003.
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