UPS up in Q2 thanks to rising demand for next-day

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Express firm UPS saw revenues and profits increase during the second quarter of the year on the back of increasing demand for next-day air services.

The company reported a 3.4% year-on-year increase in revenues to $18bn during the period, while net income increased by 13.5% on a year earlier to $1.5bn.

UPS said that the improved results came on the back of a 7% increase in its US daily volumes while next-day air service demand improved by more than 30%.

Looking at UPS’ various business segments, US Domestic noted a 7.7% year-on-year increase in second-quarter revenues to $11.1bn and operating profit was up 28.6% to $1.2bn thanks to the aforementioned increase in demand for next-day services.

UPS’ International Segment saw revenues decrease by 2.7% to $3.bn but operating profits improved to $663m from 618m.

Volumes decreased as a result of “macro-economic” pressures and tough year-on-year comparisons.

Finally the Supply Chain and Freight segment noted a 3% decline in second quarter revenues to $3.4bn and a 25.9% increase in operating profits to $272m.

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