Like The Herald Business Journal on Facebook!
The Herald of Everett, Washington
Heraldnet.com

The top local business stories in your email

Contact Us:

Josh O'Connor
Publisher
Phone: 425-339-3007
joconnor@heraldnet.com

Jody Knoblich
General Sales Manager
Phone: 425-339-3445
Fax: 425-339-3049
jknoblich@heraldnet.com

Jim Davis
Editor
Phone: 425-339-3097
jdavis@heraldnet.com

Site address:
1800 41st Street, S-300,
Everett, WA 98203

Mailing address:
P.O. Box 930
Everett, WA 98206

HBJ RSS feeds

Profit at UPS increases 7 percent

SHARE: facebook Twitter icon Linkedin icon Google+ icon Email icon |  PRINTER-FRIENDLY  |  COMMENTS
Associated Press
Published:
DALLAS -- Consumers who kept spending after the holidays ended helped boost profit at UPS.
United Parcel Service Co. said Thursday that first-quarter profit rose 7 percent to $1.04 billion.
The company's adjusted profit was $1.04 per share, better than the $1 per share that analysts expected.
Daily package volume in the U.S. increased and company revenue rose 2 percent to $13.43 billion, although that was a bit less than Wall Street predicted.
Atlanta-based UPS is sticking with its forecast of 2013 adjusted earnings of $4.80 to $5.06 per share. Analysts expect $4.98 per share.
UPS also announced Thursday that it will buy Hungarian pharmaceuticals-delivery company Cemelog Zrt. Financial terms were not disclosed. The sale is expected to close in the second quarter.
Earlier this year, UPS withdrew a $6.7 billion offer for Dutch package-delivery company TNT Express NV after European antitrust regulators blocked the deal, saying it would limit competition too much and lead to higher prices. TNT would have been UPS' largest acquisition.

MORE HBJ HEADLINES

CALENDAR

Share your comments: Log in using your HeraldNet account or your Facebook, Twitter or Disqus profile. Comments that violate the rules are subject to removal. Please see our terms of use. Please note that you must verify your email address for your comments to appear.

You are logged in using your HeraldNet ID. Click here to update your profile. | Log out.

Our new comment system is not supported in IE 7. Please upgrade your browser here.

comments powered by Disqus