Forwarding arm revenue grows 24% for UPS in Q1

Forwarding arm revenue grows 24% for UPS in Q1

By: Logistics Middle East Staff
UPS’ first-quarter 2019 earnings were strengthened by higher-quality revenue and benefits from investments in its global network, with the forwarding arm one of the strongest performers.
First-quarter adjusted results exclude a pre-tax charge of US $123 million, or $0.11 per share after tax, due to Transformation-related charges. These projects will create efficiencies across the enterprise and produce higher-quality revenue growth, it said in a release.
[node:story_0]
“The first quarter marked a good start to the year, as we executed against our strategy and generated solid performance across our business,” said David Abney, UPS chairman and CEO.
“Our Transformation initiatives are enhancing revenue quality and creating network efficiencies that will increase our long-term earnings power. We are on a path to take advantage of growth opportunities and enhance our future performance,” he added.
Consolidated revenue increased to $17.2 billion, driven by gains in average daily volume and higher-quality revenue.
U.S Domestic continued a positive trend, increasing business-to-business volume once again this quarter. Revenue grew to US $253 million or 2.5% over 1Q 2018.
Additionally, investments in new automated hubs contributed to improvements in operational measures including productivity gains and slower growth in unit costs.
“We are bending the cost curve in our U.S. Domestic segment as highly automated hubs come online, producing improved productivity benefits,” said Abney. “These improvements contributed to the segment’s performance in the quarter and will continue to gain momentum going forward.”
[node:story_1]
Supply Chain and Freight produced strong profit growth in the quarter. The segment also expanded operating margins, driven by disciplined cost-management initiatives and the flexibility of the network to adapt to changing market conditions.
“Supply Chain and Freight generated excellent operating profit this quarter, with strong contributions from Coyote and the rest of our Forwarding unit,” said Abney. “We continue to execute our asset-light strategies, while providing our customers with the high-quality service they expect.”
The segment generated strong growth in operating profit of $200 million and adjusted operating profit of $211 million, a more than 24% increase over the first quarter of 2018.
Shipping from Dubai | Air Cargo | Sea Shipping | International Relocation
AAC Cargo & International Shipping Services
Dubai, Unites Arab Emirates
Tel: +971 4 8880718
Email: info@aaccargo.ae
Websites:
https://aaccargo.ae
https://aaccargo.com/
http://expresscargo.ae/
Shipping & Moving Household & cars from Dubai to USA, Africa & Europe, we are international movers specialized in worldwide logistics from Dubai.
Shipping from Dubai, International movers, Shipping to Africa, Shipping to Europe, International Relocation, Ocean Freight, Sea shipping, Air Cargo, air shipping, Shipping Company, Cargo Company, Dubai Shipping Company freight forwarding, Logistics company, Express Cargo, Shipping to South America, Shipping to Russia

Comments

Post a Comment

Popular posts from this blog

ASENDIA HELPS RETAILERS TO STREAMLINE THEIR LOGISTICS

Image
Asendia  Singapore has opened a high-tech Fulfilment Centre at  Singapore Changi Airport  in the latest phase of its global e-commerce focused strategy. Based in the city state’s Free Trade Zone (FTZ), the new facility offers Asendia customers the ability to manage their cross-border e-commerce fulfilment operations from Singapore, regardless of where their parent company is based, particularly useful for US and EU based e-commerce operators. This opening means that Asendia now has fulfilment solutions straddling three continents, Asia, Europe and North America. The Singapore Fulfilment Centre will offer services including; order processing, global distribution, storage and stock management. Due to Singapore Harbour’s free-trade status and proximity to Asian manufacturing hubs customers will benefit from reduced transport costs and more efficient tax and duty management. Commenting on the announcement, Dieter Pluess, CEO Asendia Singapore, said: “Asendia is lea...
Read more

Saudia Cargo transports 175 Tons of WWE Super Showdown equipment

Image
Saudia Cargo has successfully provided all its logistical capabilities to bring the WWE wrestling ring equipment of the show that were forwarded by Sound Moves via Saudia Cargo freighters Share by  Logistics Middle East Staff Wed 12 Jun 2019 04:13 PM Saudi Airlines Cargo Company transported 175 Tons of World Wrestling Entertainment (WWE) equipment all the way to Jeddah, from Maastricht in the Netherlands for the WWE event that took place at King Abdullah Sports City in June. Saudia Cargo has successfully provided all its logistical capabilities to bring the WWE wrestling ring equipment of the show that were forwarded by Sound Moves via Saudia Cargo freighters. Boeing 747-8s & Boeing 777s carrying total tonnages of 175 tons delivered the cargoes in May. The company also provided special Ground Handling for the heavy loads at King Abdulaziz International Airport’s Cargo station. Saudia Cargo resumes freigh...
Read more

Gallega is a member of Pacific Power Logistics

Image
Pacific Power Logistics , headquartered in Hong Kong with a global presence in over 120 countries. PPL Net, established in 2007, is a leading network of independent freight forwarders and logistic service providers. PPL Net is 100% neutral and not owned by any freight forwarder. Being fully dedicated to the management and development of our network, we take pride in supporting our members in developing their logistics business on a global scale . PPL Net is part of and fully supported by the PPL Networks Family of logistic networks. Shipping from Dubai | Air Cargo | Sea Shipping | International Relocation AAC Cargo & International Shipping Services Dubai, Unites Arab Emirates Tel: +971 4 8880718 Email: info@aaccargo.ae Websites: https://aaccargo.ae https://aaccargo.com/ http://expresscargo.ae/ Shipping & Moving Household & cars from Dubai to USA, Africa & Europe, we are international movers specialised in worldwide logistics ...
Read more