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United Parcel Service Q1 profit climbs 11.7% YOY

UPS Inc. said its first-quarter normalized net income was $1.09 per share, compared with the S&P Capital IQ consensus estimate of $1.09 per share.

EPS increased 13.9% year over year from 96 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $993.8 million, a gain of 11.7% from $889.4 million in the prior-year period.

The normalized profit margin rose to 7.1% from 6.5% in the year-earlier period.

Total revenue climbed year over year to $13.98 billion from $13.78 billion, and total operating expenses came to $12.32 billion, compared with $12.27 billion in the prior-year period.

Reported net income grew 12.1% on an annual basis to $1.02 billion, or $1.12 per share, from $912.4 million, or 98 cents per share.