UPS 3Q Earnings Climb 69%

UPS announced adjusted diluted earnings per share of US$0.93 for the third quarter of 2010, a 69 percent improvement over the prior-year period. Global revenue grew 9.3 percent, generating $1.5 billion in adjusted operating profit, a 62 percent increase.

On a reported basis, diluted earnings per share were $0.99, an 80 percent increase over the $0.55 in the same period last year. During the quarter, UPS recorded an after-tax benefit of $61 million on the sale of real estate.

In Asia Pacific, UPS's growth was led by China and Vietnam, both of which incurred a more than 50 percent export volume increase compared to the same quarter in 2009. UPS in Hong Kong and India achieved more than 30 percent growth in quarterly export volume.

"UPS experienced another great quarter in Asia with nearly 35 percent growth in export volume. We also experienced a strong performance in our Asia-to-Europe trade lane export volume with more than 30 percent growth," said Derek Woodward, president, UPS Asia Pacific region. "We are reaping the rewards of our investments in Asia, specifically our Asia Pacific hub in Shenzhen and international hub in Shanghai. UPS will also continue to expand our services in emerging markets such as Indonesia and Vietnam to help our customers better manage their supply chain."

"UPS's third quarter results reflects how we are continuing to benefit from the momentum of Asia's strong recovery coupled with the strong growth of export volumes in Singapore during the second quarter," said Greg Carstens, managing director, UPS Singapore. "We believe we can better help our customers take charge of Asia's growth and are confident in our ability to thrive by providing them the services they need to grow."

"With more than a century of experience, UPS understands that logistics can be a powerful tool to help businesses get products to market first and are confident in our ability to thrive by partnering with our customers and providing them the services they need to grow," he added.

"UPS once again exceeded expectations due to superior execution across all business units and our ability to provide solutions that creates value for our customers," said Scott Davis, UPS chairman and CEO. "We continue to deliver significant earnings growth and margin expansion in the current economic environment. This is a true testament to what can be accomplished when you have excellent people, superior service and an unmatched global portfolio."