UPS reports over 9% growth in Q2 topline

Global air cargo major, UPS has reported a modest jump in the vicinity of double-digit in Q2 of the current fiscal. The company has recorded a revenue increase of 9.6 percent to $17.5 billion across all segments.

Among other highlights, the company’s net income increased 7.3% and adjusted net income was 22% higher than 2Q17, year-to-date dividends per share increased by 10% to $1.6 billion and share repurchases were $511 million. The company has also mentioned making capital expenditures of $2.8 billion in the first half of 2018. Its average daily exports also rose sharply by 9.5 percent primarily led by demand from the European markets.

“UPS is making great progress on our transformation initiatives to enhance profitable growth and improve operating leverage,” said David Abney, UPS Chairman and CEO.  “We are confident that our strategies will position the company to provide improved value for customers and shareowners.”

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