Revenues up at UPS

Global logistics company United Parcel Service (UPS) has announced that its revenues for the first quarter (Q1) of 2017 were up 6.2% on last year at $15,315m.

The company said that revenue grew “in all segments and in all major product categories”.

E-commerce deliveries played a leading role in driving up revenues.

“Revenue came in strong this quarter with all segments adding to the topline,” said David Abney, UPS chairman and CEO.  “We are accelerating investments to create the industry’s leading smart global logistics network and value-creating portfolio.  UPS customers are benefiting from expanded capacity, choice and improved time-in-transit, while technology solutions continue to deliver efficiencies.”

Speaking of the Supply Chain and Freight segment, Abney continued, “We are extremely pleased with the growth and margin enhancing performance of the Supply Chain and Freight segment this quarter. The team has been working on growth initiatives, cost reduction programs and business unit portfolio strategies to address unique market conditions for the last several quarters.  These initiatives showed excellent progress.”

UPS international segment has performed well. The company’s statement said, “International segment generated strong topline growth with increased demand for cross-border shipments. Export shipment growth was strong across all UPS regions, as customers took advantage of our expanded portfolio and industry-leading customs brokerage solutions.”

Overall the leadership team are happy with the business. “First quarter results continue to show the benefit of our operating plan improvements across all business units,” said Richard Peretz, UPS chief financial officer.  “Our current momentum, combined with accelerated investment initiatives gives us confidence in our ability to attain our full-year guidance.”
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