The United Parcel Service (NYSE:UPS) released their Q1 earnings report on Tuesday. The company announced that revenue in the first quarter was up 1.4% from Q1 2014 to $14 billion. While revenue missed analyst expectations of $14.2 billion, the company beat expectations when they announced $1 billion in net income.
Earnings per share were $1.12, which is up 14% from last year.
The company’s international revenue was up 2.4% to $3 billion with operating profits abroad up 14% to $498 million. United States revenue was up 3.8% to $8.8 billion. Operating profits in the country are up 11% to $1 billion. UPS has also increased their revenue per package by 1.3% this quarter.
A total of 1.1 billion packages left the company’s trucks during the first quarter alone. Growth in package delivery reached 2.8%, with over a 9% increase in European exports this past quarter.
During the company’s statement, the CFO, Kurt Kuehn, reaffirmed that the adjusted earnings per share for the year are expected to be $5.05 – $5.30, up 6% – 12% from 2014. Analysts forecast the company’s EPS to be $5.15.
The company’s stock us up 3.3% on the news to $100.66 a share. Profit increases are a result of higher prices.
