UPS EBITDA up 19% in Q2
UPS has announced its second quarter financial figures, with consolidated operating profit up 19.29% and an 8.11% increase in revenues.
With a 68% increase in average daily volumes, consolidated operating profit (adjusted) was US$1.67 billion (Q2 2010: $12.2bn), on revenues of US$13.19 billion (Q2 2010: $12.2bn).
For the six-month period ended June 30th, UPS generated US$2.3 billion in free cash flow, after making accelerated pension contributions of US$1.2 billion. With the addition of four B-767 and two B747-400 aircraft to its fleet, capital expenditure for the period totalled US$951 million.
US Domestic Package operating profit (adjusted) was up 31.15% to US$981 million (Q2 2010: $748m), with revenue up 6.46% to US$7.74 billion (Q2 2010: $7.27bn).
Despite a 13.36% increase in revenue, International Package operating profit (adjusted) dropped 4.61% to US$497 million (Q2 2010: $521m), on revenue of US$3.14 billion (Q2 2010: $2.77bn).
Revenue growth was driven by an 8.1% increase in export volume, with Europe and China continuing their strong growth trends. However, currency translation and hedging programs negatively impacted the operating profit by more than US$50 million.
Significant improvements in the Forwarding business as a result of revenue management initiatives and favourable buy rates enabled the Supply Chain & Freight division to set a new high in operating profit (adjusted), which was up 40.6% to US$187 million (Q2 2010: $133m). Revenue was up 7.41% to US$2.32 billion (Q2 2010: $2.16bn).
On a reported basis, including the positive impact of a $48 million real estate transaction, operating profit increased by 77%.
"UPS’s results reflect the continued execution of our strategy and the ability to grow earnings in an uneven economic environment," said chairman & CEO Scott Davis.
Quelle: eyefortransport
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