UPS reports strong profit growth in 3Q2010, raises full year guidance

UPS revenue up 9.3% - financial highlights for the three months ended 30-Sep-2010:

• Revenue: USD12,192 million, +9.3% year-on-year;
  • US Domestic Package: USD7,291 million, +6.2%;
  • International Package: USD2,676 million, +10.5%;
  • Supply Chain & Freight: USD2,225 million, +19.4%;
• Operating costs: USD10,576 million, +3.4%;
• Operating profit: USD1,616 million, +74.0%;
  • US Domestic Package: USD1,020 million, +98.4%;
  • International Package: USD419 million, +33.9%;
  • Supply Chain & Freight: USD177 million, +73.5%;
• Net profit: USD991 million, +80.5%;
• Operating cash flow: USD3,925 million;
• Capital expenditure: USD1,011 million;
• FY2010 forecast:
  • Adjusted earnings per share: USD3.48 to USD3.54. [more]

UPS: "I am confident in UPS's ability to generate strong cash flow and continued earnings growth while investing in growth opportunities around the world. Based on the projections of retailers and economists, we expect modest growth during the holiday peak season. We are raising our full year 2010 guidance with adjusted earnings per share expected to grow more than 50% over last year," Kurt Kuehn, CFO. Source: UPS, 21-Oct-2010.