News Summary: UPS increases 3rd-quarter profitOctober 25, 2013 @ 9:06 am
(AP) - UPS DELIVERS: United Parcel Service Co. beat analysts' expectations by a penny per share, as it reported third-quarter net income of $1.1 billion, or $1.16 per share. A year ago, the company earned 48 cents per share, although it would have been $1.06 per share excluding a one-time expense for pension-restructuring.
MORE PICKUPS: The company with the familiar brown trucks delivered more than 1 billion packages in the quarter, up 4.6 percent. U.S. ground shipments and international-export deliveries both rose.
HOLIDAY OUTLOOK: UPS expects to add 55,000 workers to handle a forecast 8 percent increase in holiday-season shipments. The company predicts that it will pick up more than 34 million packages on the busiest day, Monday, Dec. 16. UPS predicts deliveries will peak at more than 29 million the next day.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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