UPS (UPS) Tops Q3 EPS by 4c, Sees Dec. Shipments Up 11%

UPS (NYSE: UPS) reported Q3 EPS of $1.32, $0.04 better than the analyst estimate of $1.28. Revenue for the quarter came in at $14.29 billion versus the consensus estimate of $14.2 billion.

U.S. Domestic revenue increased to $8.7 billion, up 5.3% over the third quarter 2013. Daily package volume improved 6.9%, led by gains in UPS Ground and Deferred products up 7.7% and 5.9%, respectively. E-commerce continued to drive strong B2C growth, while B2B deliveries were also higher this quarter.

International revenue increased 5.5% to $3.2 billion on daily package growth of 6.7%. Export products jumped 9.4% with gains from all regions of the world. Shipments out of Asia grew 16% and Europe was up 14%.

Supply Chain and Freight revenue was up 7.4% to $2.4 billion, resulting primarily from growth in the Distribution and UPS Freight business units. Operating profit was 7% higher at $215 million, and operating margin was 8.9%.

UPS continues to see FY2014 EPS of $4.90-$5.00, versus the consensus of $4.95.

The company announced its expectations for the upcoming holiday season. UPS expects shipments delivered during the month of December to climb 11% over the prior year. As previously announced, the company committed an additional $175 million in operating expense and $500 million in capital expenditures to enhance its capabilities and prepare the network for peak and future volume growth.

For earnings history and earnings-related data on UPS (UPS) click here.

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