UPS reported$14.1 billion in second quarter 2015 revenue. This is down 1.2% from a year earlier thanks in part to the strong dollar. While sales were below Wall Street expectations profits climbed past the consensus estimate to $1.35 per share. That's up 12% from adjusted results during the same period in 2014.
The company says all three of its segments logged margin and profit improvements in the quarter buts its international packages and freight divisions outperformed domestic packages.
International operating profit gained 17% to $552 million, with efficiency, number of packages and pricing all contributing to the growth. "The strong momentum in our International segment is expected to continue and gives us confidence in achieving the upper end of our guidance range," said CEO David Abney in a statement on the results.
Chief Financial officer Richard Peretz added, "The second quarter results reflect continuing gains in our International business. Even though the U.S. economy appears to be growing at a slower pace, our global portfolio and performance reinforces our expectations to attain the higher-end of the guidance range."
This year the company expected adjusted earnings per share between $5.05 and $5.30, up 6% to 12% over 2014.
Shares of UPS were up 3.5% to $98.48 in pre-market trading Tuesday. As of the closing bell Monday, however, the stock was down 14% year-to-date.
