UPS says post-holiday spending by consumers helped boost 1Q profit by 7 per cent over last year

CP23074024
In this April 10, 2013, photo, UPS driver Peggy Larson carries packages during her route in Manchester, Wash. United Parcel Service Inc. reports quarterly financial results before the market open on Thursday, April 25, 2013. (AP Photo/Kitsap Sun, Larry Steagall)

DALLAS – Consumers who kept spending after the holidays ended are helping to boost profit at UPS.

United Parcel Service Co. said Thursday that first-quarter profit rose 7 per cent to $1.04 billion.

The company’s adjusted profit was $1.04 per share, better than the $1 per share that analysts expected.

Daily package volume in the U.S. increased and company revenue rose 2 per cent to $13.43 billion, although that was a bit less than Wall Street predicted.

Atlanta-based UPS is sticking with its forecast of 2013 adjusted earnings of $4.80 to $5.06 per share. Analysts expect $4.98 per share.

News from © The Associated Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

Want to share your thoughts, add context, or connect with others in your community?

Create a free account

The Associated Press

The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. More than half the world’s population sees AP journalism every day.

Related Articles