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UPS meets solid Q3 results

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  • UPS meets solid Q3 results

    What this report says is typical of corporate America today.

    UPS meets solid Q3 results with ‘constructive dissatisfaction’
    One of UPS Inc. (NYSE:UPS) founder Jim Casey’s favorite slogans was “constructive dissatisfaction,” the idea that no matter how well the company was doing, it could always do better. That mantra was in full flower Wednesday morning during UPS’ analyst call to discuss its third-quarter results.

    The results, as many had forecast, were strong. Adjusted diluted earnings per-share hit $2.28, 42 cents a share above estimates of analysts polled by Barchart. Revenue across UPS’ three main business units — domestic package, international package and supply chain and freight — climbed nearly 16% to $21.2 billion. Operating profits for the international and supply chain and freight segments — the latter being all of the company’s non-package operations — ran well into the double digits, with international margins soaring 23.6% year-on-year. Revenue for the high-margin small to midsize (SMB) customer category increased 18.7%, the highest year-on-year growth rate in 16 years.

    Yet UPS CEO Carol Tomé and CFO Brian Newman spent the better part of the hour-long call discussing improvements needed to streamline the biggest ship in the shipping business. The catalyst of their comments was the year-over-year decline in operating profit for the U.S. small-package division, the company’s biggest unit. Adjusted profits in the quarter fell to $1.13 billion from $1.24 billion as costs ran ahead of revenues, the Atlanta-based company said.
    https://www.freightwaves.com/news/up...issatisfaction

  • #2
    Re: UPS meets solid Q3 results

    A follow up story, and a different perspective to the profits UPS has made during the pandemic.

    UPS CASHES IN ON COVID WITH $2 BILLION PROFITS
    UPS made $2 billion in profits after taxes in the third quarter thanks to exploding volume and excessive overtime by UPS Teamsters. Revenue for the quarter topped $21 billion.The company has already made $4.4 billion in profits in the first nine months of the year. With peak season ahead, UPS profits for 2020 will shatter all previous records.
    Unlike many companies, UPS has never paid hazard pay to its employees.
    Instead, UPS Teamsters have been rewarded for their efforts with new contract violations and abuses, from installing cameras in trucks to two-tier 22.4 drivers.
    https://www.tdu.org/ups_cashes_in_on...illion_profits

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