UPS Q3 Earnings Climb
UPS Freight revenue grew 14 percent due to improved yield and increases in gross weight hauled.
During the quarter, UPS launched Preferred LCL Ocean Freight, a new service that provides up to 20 percent faster door-to-door delivery than other less-than-container-load (LCL) services on the market.
"UPS generated superior performance across all segments," said Kurt Kuehn, UPS's chief financial officer. "This is a direct result of the successful execution of our long-range strategy.
"I am confident in UPS's ability to generate strong cash flow and continued earnings growth while investing in growth opportunities around the world," Kuehn added. "Based on the projections of retailers and economists, we expect modest growth during the holiday peak season. We are raising our full-year 2010 guidance with adjusted earnings per share expected to grow more than 50 percent over last year. "
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