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  1. #1
    Retired !

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    Feb 2009
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    Retired - New Penn
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    Default UPS 4th quarter earnings

    Another solid display of combined earnings from the premier package and freight company.

    UPS posts solid fourth-quarter operating results; net income hit by pension, legal, operating charges
    (NYSE:UPS) reported Thursday morning solid fourth-quarter operating results, though its net income was weighed down considerably by about $1.9 billion in charges for pension adjustments, network reconfiguration and settling a legal dispute with New York state involving movements of cigarettes.
    The company’s quarterly earnings per share (EPS) — adjusted for the charges — came in at $2.11 a share, 1 cent a share higher than the $2.10 estimate from nine analysts polled by Barchart and an 8.8% rise from the 2018 fourth quarter. UPS took a $2.23 EPS charge in the quarter for the associated charges. The $1.8 billion pension accounting charge was noncash. The network reconfiguration and legal charges were after tax, UPS said.
    The quarter is considered the most important of UPS’ year because it includes the peak holiday season, when volumes swell to levels well above their normal size.
    More tellingly for the U.S. and global economies, the company predicted continued weakness in global industrial production during 2020. Industrial economies worldwide have been in a more than yearlong funk, and there’s no indication that the tide will turn until the second half of 2020, at the earliest. Mega-scale carriers like UPS are considered proxies not only for their industries but for global economic activity.
    UPS ships 21.7 million parcels worldwide each day.
    UPS Freight, the company’s less-than-truckload (LTL) business, reported that revenue for each 100 pounds shipped rose 2.5%. Revenue per-hundredweight is considered a key metric of a carrier’s profitability.
    https://www.freightwaves.com/news/up...rating-charges

  2. #2
    Retired !

    Join Date
    Feb 2009
    Local Union
    107
    Employer
    Retired - New Penn
    Location
    South Jersey
    Posts
    17,507
    Rep Power
    376

    Default Re: UPS 4th quarter earnings

    The above story was the UPS fourth quarter of 2019 reported profits.
    They have announced the first quarter of 2020 with another massive profit.

    PANDEMIC PROFITS: UPS REELS IN NEARLY $1 BILLION
    UPS executives announced first quarter profits of $965 million, compared to $1.1 billion for the same period last year.
    Many of the businesses that UPS Teamsters delivers to are closed dues to COVID-19.
    Residential deliveries are up but they are less profitable per package than commercial deliveries.
    Despite the pandemic, UPS hauled in nearly $1 billion in profits after taxes in just three months.
    UPS Teamsters delivered these profits by coming to work throughout the COVID-19 crisis at risk to ourselves and our families—and we’re not going to let the company forget it.
    http://www.tdu.org/pandemic_profits_...arly_1_billion

 

 

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