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UPS Ups Earnings

Published Friday, April 23, 2004

UPS reported a 1Q 24% gain in net income over the 1Q 2003 to $759 million. Total revenues totaled $8.92 billion— an 11.3% increase over the year-earlier period. The package delivery service cited strong results in all three of its business segments. Revenue for its U.S. package segment rose 8.6% to $6.54 billion, while profits rose 18% to $831 million. Average U.S. ground and air sectors increased by 600,000 (5%) packages per day. Next Day Air and deferred air volume rose 3.1% and 5.8%, respectively. Profit from its international arm doubled to $269 million, in addition to a ...

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