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United Parcel Service Q2 profit climbs 175.0% YOY

UPS Inc. said its normalized net income for the second quarter amounted to $1.29 per share, compared with the S&P Capital IQ consensus estimate of $1.27 per share.

EPS climbed 180.7% year over year from 46 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.17 billion, an increase of 175.0% from $426.9 million in the prior-year period.

The normalized profit margin increased to 8.3% from 3.0% in the year-earlier period.

Total revenue fell year over year to $14.10 billion from $14.27 billion, and total operating expenses decreased 10.3% from the prior-year period to $12.13 billion from $13.52 billion.

Reported net income grew 169.9% year over year to $1.23 billion, or $1.35 per share, from $454.2 million, or 49 cents per share.