UPS revenue and profit increased in 2Q2014, EPS up 7.1%

UPS reported (29-Jul-2014) adjusted diluted earnings per share increased 7.1% year-on-year to USD1.21 in 2Q2014. US domestic revenue increased 5.2% to USD8.7 billion and adjusted operating profit increased 3% to USD1.2 billion. International small package revenue increased 6.2% to USD3.3 billion and adjusted operating profit increased 4.4% to USD471 million. The company recorded a 7.2% increase in global package shipments, supported by e-commerce shipping in the US and 9.1% growth in international export shipments. Daily international export shipments improved by more than 13% in Europe and more than 6% in Asia. UPS Forwarding reported double-digit growth in operating profit with strong improvements in North American airfreight, brokerage and ocean freight, offset by a drop in international airfreight. UPS plans to increase its 2014 operating expense to USD175 million for capacity and peak related projects. The company lowered expectations for adjusted diluted earnings per share to between USD4.90 and USD5 for 2014, an increase of 7% to 9% year-on-year. [more - original PR]