English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

UPS increases profit and fleet

ATLANTA, GA: October 27, 2016. UPS has reported a year-on-year rise of 4.5 percent in net profit to US$3.67 billion for the first nine months of 2016. Revenue rose 3.9 percent to US$43.97 billion in the same period.

For the third quarter ending September 30, the company saw net profit rise to US$1.27 billion compared to the same period last year on a 4.9 percent increase in revenue to US$14.9 billion.

UPS 747-8UPS said its international operating profit jumped 14 percent to US$576 million, a record for any third quarter in its 109-year history.

Revenue was US$3.0 billion, up 2.2 percent compared to the third quarter last year. Daily export volume increased 7.1 percent on double-digit gains out of Asia and high-single digit cross-border shipments within Europe, said the company.

"Through the third quarter we are performing according to our expectations, and we've taken the necessary steps to ensure we capitalize on record volume levels during peak season," noted Richard Peretz, UPS chief financial officer.

For the first nine months of 2016, UPS generated US$5.4 billion in cash from operations, which included a planned discretionary pension contribution of US$1.2 billion in the third quarter. Free cash flow was $3.6 billion after making capital expenditures of $1.8 billion.

In a related capex move, the company has ordered 14 B747-8s from Boeing for delivery between 2017 and 2020 in anticipation of increased demand on its high-volume trade lanes. The value of the contract, which includes options for 14 more aircraft, was not disclosed.

"UPS is making several strategic capital investments for increased global operating capacity," said David Abney, UPS chairman and CEO. "These investments will help enable customers to expand their presence in new and existing markets while fueling our profitable growth and attainment of UPS's long term business objectives."

More News

Written on 24/03/2017, 21:15
hapag-lloyd-hit-by-low-freight-ratesHAMBURG: March 24, 2017. Hapag-Lloyd reported a net loss of €93.1 million in 2016 on revenue that fell 12.5 percent from the previous year to reach €7.73...
Written on 23/03/2017, 19:40
new-grow-box-technology-from-maerskTINGLEV, Denmark: March 23, 2017. Maersk Container Industry (MCI) has launched Star Cool CA+, an extension of its controlled atmosphere (CA) technology,...
Written on 23/03/2017, 17:04
emirates-responds-to-u-s-laptop-banDUBAI: March 23, 2017. Emirates Airline has responded swiftly to the U.S. ban on laptops and tablets via its passenger flights from Dubai with a free...
Written on 22/03/2017, 20:44
flying-eye-hospital-arrives-in-dohaDOHA: March 22, 2017. Qatar Airways has welcomed the arrival of the Orbis Flying Eye Hospital from the UK where the non-profit organization had earlier...
Written on 21/03/2017, 21:12
fedex-to-launch-round-the-world-from-liegeMEMPHIS, TN: March 21, 2017. Next month FedEx is to begin a B777 freighter flight from Liège, Belgium to Memphis as part of a round-the-world service...
Written on 16/03/2017, 20:20
k-n-acquires-two-pharma-logistics-companiesSCHINDELLEGI, Switzerland: March 16, 2017. Kuehne + Nagel is to acquire two specialist logistics companies in Turkey and Italy to expand its good...
Written on 15/03/2017, 17:52
panalpina-expands-circular-economy-centerDUBAI: March 15, 2017. Panalpina has officially opened its 40,000 square meter logistics manufacturing center in Dubai Logistics City, part of the bonded...
Written on 15/03/2017, 17:12
coyote-logistics-opens-in-guadalajara-mexicoCHICAGO: March 14, 2017. UPS 3PL subsidiary Coyote Logistics has opened a new office in metropolitan Guadalajara, Mexico to develop transborder truckload,...
Written on 15/03/2017, 15:20
auto-traffic-switches-from-road-to-railKIRCHHEIM/TECK, Germany: March 15, 2017. After a five-year hiatus, automobile logistics specialist Mosolf Group is re-introducing a weekly rail link...
Written on 14/03/2017, 19:47
unisys-offers-pay-for-use-air-cargo-managementLONDON: March 14, 2017. Unisys has launched 'Digistics' - described by the company as an "integrated cargo logistics solution" for carriers to streamline...
Written on 14/03/2017, 17:03
mercator-introduces-ice-in-abu-dhabiABU DHABI: March 14, 2017. IT solutions provider Mercator, majority-owned by Warburg Pincus Investments, has launched what it says is the air cargo...
Written on 14/03/2017, 15:59
unilode-wins-saudi-arabian-airlines-contractABU DHABI: March 14, 2017. Unilode, the ULD management company formerly known as CHEP, has won a major outsource contract from Saudia and Saudia Cargo to...
Written on 13/03/2017, 15:37
2016-revenue-increase-for-turkish-cargoISTANBUL: March 13, 2017. Turkish Airlines has reported a six percent rise in air cargo revenue in 2016 to US$996 million. Some US$600 million was...
Written on 10/03/2017, 21:49
nec-to-develop-visibility-platform-for-pandemic-responseTOKYO: March 09, 2017. The U.N. World Food Programme (WFP) and NEC Corporation are to develop the first supply chain visibility platform for pandemic...
Written on 10/03/2017, 20:21
airbus-helps-south-sudan-refugeesTOULOUSE: March 09, 2017. The Airbus Foundation has used an A330 test aircraft to carry 17 tonnes of aid equipment from the UK to Uganda for refugees...
Written on 09/03/2017, 22:32
the-alliance-sets-up-post-hanjin-insurance-planHAMBURG: March 09, 2017. On April 01 'THE Alliance' of Hapag- Lloyd, 'K'Line, MOL, NYK and Yang Ming, will launch 32 liner services to 75 major ports on...
Written on 09/03/2017, 16:35
another-quarter-decline-in-airline-profitsGENEVA: March 09, 2017: IATA says a drop in profits for its member airlines that began in Q3 2016 continued into the last quarter, despite margins...
Written on 09/03/2017, 14:55
hutcheson-to-operate-new-swedish-box-portSTOCKHOLM: March 08, 2017. Hutchison Ports is to operate the container terminal at Stockholm's new Norvik Port, due to open in three years. The facility,...
Written on 08/03/2017, 22:18
record-net-profit-for-deutsche-post-dhlBONN: March 08, 2017. Deutsche Post DHL (DPDHL) has reported a 71.4 percent rise in net profit of €2.64 billion on a 3.2 percent decline in revenue of...
Written on 07/03/2017, 19:49
yusen-supply-chain-uses-circular-economy-and-carbon-offsetHOOFDDORP, The Netherlands: March 07, 2017. Yusen Logistics has won a contract to manage the supply chain of diesel-engine cylinder blocks from...

- powered by Quickchilli.com -