UPS revenue up 7.2%, 1Q2010 results better than expected

UPS revenue up 7.2% - financial highlights for the three months ended 31-Mar-2010:

• Total revenue: USD11,728 million, +7.2% year-on-year;
  • US Domestic Package: USD7,102 million, +2.2%;
  • International Package: USD2,639 million, +17.8%;
  • Supply Chain & Freight: USD1,987 million, +13.6%;
• Total operating costs: USD10,686 million, +4.6%;
• Operating profit: USD1,042 million, +45.1%;
  • US Domestic Package: USD562 million, +46.4%;
  • International Package: USD427 million, +45.2%;
  • Supply Chain & Freight: USD53 million, +32.5%;
• Profit before tax: USD953 million, +46.8%;
• Net profit: USD533 million, +32.9%;
• Total package volume: 14.9 million, +2.7%;
  • US Domestic: 12.7 million, +0.4%;
  • International: 2.2 million, +18.2%;
• Revenue per piece: USD10.23, +2.9%;
  • US Domestic: USD8.86, +1.8%;
  • International: USD18.16, -1.0%. [more]

UPS: "UPS achieved significant operating leverage in an improving global economic environment. In the first quarter we realised the benefits from the hard work we have been doing to streamline our operations. First quarter results exceeded our expectations and set a strong foundation for the rest of 2010. We expect first quarter trends to continue through the year, producing revenue growth and additional operating leverage," Kurt Kuehn, CFO. Source: UPS, 27-Apr-2010.