News / UPS sees B2B plummet in Q1, but B2C volumes keeps the trucks rolling

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Despite the near implosion of its B2B traffic in March, UPS suffered only mild damage from the pandemic on its balance sheet for the first quarter.

Net income sank from $1.11bn in the first quarter last year to $965m, which sent diluted earnings per share down to $1.11 from $1.28 last year.

“I think they did fairly well, considering the situation. There weren’t really any surprises,” said Cathy Morrow Roberson, founder and head analyst of Logistics Trends & Insights.

Revenues at UPS actually ...