LONDON (ShareCast) - (Sharecast News) - United Parcel Service posted a rise in third-quarter profit and revenue on Wednesday.
In the three months to 30 September, net income rose to $1.51bn from $1.26bn in the same quarter a year ago, as revenue pushed up to $17.4bn from $16.2bn. Meanwhile, diluted earnings per share increased more than 20% to $1.73, while adjusted diluted earnings per share were up 26% to $1.82.

UPS said its third-quarter results benefited from several discrete items, including tax that helped to offset unplanned international headwinds from currency and fuel.

The company said the US domestic segment experienced strong revenue growth of 8.1% to $10.4bn, driven by high demand for its solutions and "robust" yield expansion compared to the third quarter of last year. In the international business, revenue increased in all regions compared to the same period a year ago, with export volume also up.

But the supply chain and freight segment was the standout performer, with double-digit growth in both revenue and adjusted operating profit.

UPS reiterated its expectations for 2018 adjusted, diluted earnings per share of between $7.03 and $7.37 and lifted its free cash flow guidance to over $5bn in 2018.

Chairman and chief executive officer David Abney said: "Our business strategies position UPS to improve operating leverage and many of our actions are already contributing to performance gains.

"We generated another quarter of industry-leading margins and strong free cash flow and we are confident in the outlook for the business."

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