UPS profit grows by 10 percent

UPS profit grows by 10 percent

Increased pricing and productivity enhancements have resulted in a better situation for the United Parcel Service during first quarter. The earnings outlook has been positive for the current fiscal year as the company registered a higher net profit in the first quarter itself.

 All business segments are showing higher productivity. The Atlanta-based corporation has shown slower growth in the supply chain and freight business revenue due to low fuel surcharges and stronger U.S. dollar.  On the stock market, UPS shares increase up to 2 percent ($99.34) after the announcement. First quarter net profit was $1.03 billion for the planet’s biggest package delivery system. The profit per share was $1.12 as the profit grew 10 percent from $911 million last year. The profit per share was 98 cents previous fiscal. The projections by the analysts pointed towards $1.09 per share earnings. The Wall Street experts predicted the revenue of $14.3 billion but the company underperformed as it remained to $14 billion.  

The analysts are expecting per-share earnings to go as high as $5.15 this year, but the company is assuring shareholders that it can go up to $5.30 by the end of 2015.  The UPS has already announced that the earning per share growth rate will be somewhere between 9 percent to 13 percent. Company officials also said that they are on their way to achieving annual financial targets. The company already suffered a lot in the fourth quarter last year as it invested a lot in preparation for the holiday peak season, but those efforts went in vain.

 

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