United Parcel Service said it received a profitable boost from its trucking operations in the third quarter, helping it achieve 14% higher earnings of $1.06 per diluted share on 8% higher revenues of $13.2 billion compared to the same period last year.
The company noted those results were driven by its U.S. domestic business and supply chain/freight segment, with supply chain/freight operating profits increasing more than 10% to $195 million on revenues of $2.34 billion.
UPS said its UPS Freight TL/LTL operation drove segment results as operating profit improved and operating margin expanded, with revenue for the quarter jumped approximately 15% on a year-over-year basis despite a slight decline in daily shipments. The division also experienced increases in LTL revenue per hundredweight and weight per shipment.
“We produced another solid quarter of earnings growth against the backdrop of a deceleration in exports from Asia and a challenging global economic environment,” said Scott Davis, UPS chairman & CEO in the company’s third-quarter earnings statement.
“The resilience of our global model was evident during the quarter and we remain confident in our ability to perform in both good and bad economies,” Davis added.