UPS Inc., the world’s largest shipping carrier, reiterated its profit growth guidance for the year but said total volume growth for the second quarter is ahead of earlier projections.
Executives of the Atlanta-based company said at an investor conference in New York on Wednesday that it expects full-year profit growth to be in the range of 16 percent to 20 percent over the adjusted $2.90 a share reported for 2004. That is the same guidance the company gave when it reported first-quarter earnings last month.
The company, formerly known as United Parcel Service Inc., also said that through the first week of May, UPS is well ahead of its 2 percent guidance for total volume growth in the second quarter. It did not elaborate.
UPS said that through its integration of its acquisition of Menlo Worldwide Forwarding, it expects $50 million to $100 million in cost savings in 2006 and at least $200 million in 2007.
“Cost control remains a critically important objective,” chief executive Mike Eskew told investors.