No surprises for UPS in first quarter
UPS reports consolidated revenue of USD 22.9 billion in the first quarter of 2021. This is a significant rise of 27% compared to Q1/2020.
Consolidated average daily business volume grew 14.3% year-on-year. Consolidated operating profit clocked in at USD 2.8 billion, showing the highest surge of 158%. In international parcel shipping, average daily business volume increased by 23.1%.
All regions achieved export growth, with revenue climbing 36.2% in Asia and Europe in particular. The profit margin for the division was 23.6%. Carol Tomé, UPS's chief executive officer, said UPS "continued to execute on its strategy of 'better, not bigger' during the quarter." (sh)