UPS releases Q3 earnings

Share this content:

UPS said it earned $970 million during the third quarter 2008, a 9.9% decline from profit of $1.08 billion a year ago.

 

The company's revenue rose 7.4% to $13.11 billion, from $12.20 billion a year ago.

 

For the first nine months of the year, UPS has earned a profit of $2.75 billion, or $2.67 a share, compared to a profit of $3.02 billion, or $2.84 a share, a year earlier. Nine-month revenue rose to $38.8 billion, compared to $36.3 billion a year earlier 

 

UPS reported diluted earnings per share of 96 cents for its third quarter. This represents an 8.6% decline from the $1.05 per share reported on an adjusted basis for the comparable 2007 quarter

 

“Based on economic forecasts, we anticipate a challenging environment for a number of quarters going forward,” said Kurt Kuehn, UPS's CFO, in a statement. “We believe the US consumer will be very conservative with spending this year. But we still expect 2008 earnings per share should be toward the lower end of the $3.50-to-$3.70 range that we provided mid-year.”

 

For the three months ended September 30, consolidated revenue per piece increased 8.1% while package volume per day declined 2.6%. Operating profit declined 7% to $1.63 billion compared to adjusted operating profit last year.

 

The decline was 4.4% on an unadjusted basis. Operating results were positively impacted by productivity gains and benefits from the two-month lag in fuel surcharges, UPS said. These impacts were more than offset by economic deceleration and the high cost of fuel, which drove product mix changes, according to the company.

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above