UPS' Third-Quarter Income Jumps 80%



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 Updated:
10/22/2010 11:30:00 AM

UPS Inc. said Thursday its third-quarter income jumped 80% to $991 million, or 99 cents a share, from $549 million, or 55 cents, a year ago.

Revenue rose 9.3% to $12.2 billion, the package carrier said in a statement.

On an adjusted basis, earnings rose 69% from the prior-year period, as the company reported an after-tax benefit of $61 million real estate sales.

UPS raised its 2010 adjusted earnings guidance to a range of $3.48 to $3.54 per share — is 51% to 53% higher than last year.

Its supply chain and freight unit’s operating profit jumped 74% to $177 million. Revenue rose 19% to $2.23 billion, led by its forwarding and logistics business.

Less-than-truckload unit UPS Freight’s revenue rose 14%, the company said.

UPS is ranked No. 1 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.

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