Atlanta, October 25, 2011 - U.S. Domestic and Supply Chain & Freight Lead the Way; Free Cash Flow Exceeds $3.7 Billion
UPS (NYSE: UPS) today announced diluted earnings per share of $1.06 for the third quarter of 2011, a 14% improvement over the adjusted $0.93 for the prior-year period. Total revenue increased 8% to $13.2 billion.
The results were driven by the U.S. Domestic and Supply Chain & Freight segments. U.S. Domestic operating margin improved to 13.1% compared to last year's adjusted results and Supply Chain and Freight operating profit increased more than 10%. Free cash flow for the first nine months of the year was strong, exceeding $3.7 billion.
On a reported basis, diluted earnings per share increased 7.1% over the same quarter last year. In the prior-year period, the company recorded an after-tax benefit of $61 million from the sale of real estate.
"UPS produced another solid quarter of earnings growth against the backdrop of a deceleration in exports from Asia and a challenging global economic environment," said Scott Davis, UPS chairman and CEO. "The resilience of our global model was evident during the quarter and we remain confident in our ability to perform in both good and bad economies."