Revenue at parcel delivery firm UPS for Q3 was $15,978m, up 7% from $14,928m a year ago, with operating profit at $2,035m, down from $2,034m. The firm said currency-neutral operating profit was $2,097m.
Diluted earnings per share fell to $1.45 from $1.44. The results were in line with analysts' expectations. Shares in UPS (United Parcel Service) were down 0.6% to $117.87 in premarket trading.
The company's earnings report also follows a torturous hurricane season that disrupted the shipping industry in multiple US states. Due to Hurricane Maria, for the bulk of this month UPS cut ground shipping rates for parcels going from the US to Puerto Rico and other places by 35%.
Costs of doing business
Revenue excluding currency costs from the company's international business grew at a 12%, faster than its domestic growth of 3.9%. UPS gets about 60% of revenue from its domestic operations.
Supply chain and freight revenue excluding currency impacts rose by 13% to $2.97bn.
For the full year, UPS expects adjusted per-share profit to be between $5.85 and $6.10, compared with its prior guidance of $5.80 to $6.10.
The results come just a day after the company announced it would increase US shipping rates by 4.9% as it attempts to recoup the higher costs associated with e-commerce shipments.