UPS Beats 3Q EPS Estimates, Re-Affirms Full Year Guidance

United Parcel Service, Inc. UPS announced 3Q 2014 earnings on Friday.

Diluted earnings per share were $1.32 for the third quarter 2014, beating the average estimate of $1.29, a 13.8 percent improvement over the prior year period. 

Operating profit increased 8.3 percent, resulting from balanced growth across all three segments.

The company reported that “daily packages in the U.S. were 6.9 percent higher as demand from both B2C and B2B customers improved. International Export shipments increased 9.4 percent with strong growth in both Asia and Europe. UPS delivered 1.1 billion packages around the world, up 6.9 percent over the third quarter 2013.”

“The solid performance we delivered this quarter establishes our ability to stay ahead of market growth and generate positive operating leverage,” said David Abney, UPS chief executive officer. “We continue making investments in technology and expanding our capabilities around the world to ensure we provide the long-term solutions customers demand.”

The company re-affirmed full year EPS guidance of $4.90 to $5.00.

United Parcel Service, Inc. traded at $101.95 in the premarket, up 1.46 percent.