Revenue grew to $13.4 billion, up 2.3 percent from a year earlier.
The results included a $213 million currency gain from liquidating a foreign subsidiary after the company’s failed acquisition of European competitor TNT, offset by $177 million for the termination fee and other costs. The deal was blocked by a European Commission decision.
UPS also announced Thursday it will acquire Hungarian pharmaceutical logistics company Cemelog, but did not say how much it will pay. The purchase is “relatively small in UPS terms,” Kuehn said, but Cemelog’s 255,000 square feet of health care distribution space and presence in Central and Eastern Europe are valuable, he said.
Looking forward, UPS expects to benefit from growth of consumerism internationally in coming years.
“UPS is one of the few companies in the world that not only takes advantage of trends but can actually influence trends,” Kuehn said. In the United States, he said, UPS has helped drive e-commerce growth by offering retailers shipping and logistics options, and it is increasing its focus on e-commerce growth in Europe.
The company also announced late Thursday that it had reached tentative labor agreements with the Teamsters union, which represents package and freight operation employees.