S&P 500 (NYSE:SPY) component United Parcel Service, Inc. (NYSE:UPS) reported its results for the first quarter. United Parcel Service, Inc. offers services in the package and freight delivery industry. It operates through three segments: International Package, U.S. Domestic Package and Supply Chain and Freight.
United Parcel Service Earnings Cheat Sheet for the First Quarter
Results: Net income for United Parcel Service, Inc. rose to $885 million (88 cents/share) vs. $533 million (53 cents/share) in the same quarter a year earlier. A rise of 66% from the year earlier quarter.
Revenue: Rose 7.3% to $12.58 billion YoY.
Actual vs. Wall St. Expectations: UPS beat the mean analyst estimate of 85 cents/share. Estimates ranged from 79 cents per share to 90 cents per share.
Quoting Management: “UPS produced strong first quarter results despite rapidly rising fuel costs and challenging weather conditions,” said Scott Davis, UPS chairman and CEO. “Once again we demonstrated the strength of our global portfolio and ability of our integrated operating model to further expand margins.”
The company has now seen net income rise in three-straight quarters. In the fourth quarter of the last fiscal year, net income rose 47.8% and in the third quarter of the last fiscal year, the figure rose 80.5%.
Competitors to Watch: FedEx Corporation (NYSE:FDX), TNT N.V. (ADR) (TNTTY), Air Transport Services Group Inc. (NASDAQ:ATSG), Air T, Inc. (NASDAQ:AIRT), Velocity Express Corp. (VEXPQ), SkyShop Logistics Inc. (SKPN), Alpine Air Express, Inc. (APNX), and Aramex PJSC (ARMX).
Today’s Performance: Shares of UPS are trading at $74.67 as of April 26, 2011 at 11:12 AM ET, up 1.4% from the previous closing price of $73.64.