Dubai PR Network, Online Press Release from Dubai and Middle East
 
Aviation, Airline & Aerospace(Travel & Tourism)
Filter PR by
  
UPS Releases 2Q 2020 Earnings
 
•       Consolidated Average Daily Volume Surged to Record 20.9% Growth
•       2Q20 Diluted EPS of $2.03, Up 4.6%; Adjusted* Diluted EPS up 8.7% to $2.13
•       YTD Cash from Operations of $5.9B; Adjusted Free Cash Flow of $3.9B
 
Dubai – August 05, 2020 – UPS (NYSE:UPS) announced second-quarter 2020 consolidated revenue increased to $20.5 billion, a 13.4% increase from the second quarter of 2019.  Net income was $1.8 billion for the quarter; adjusted net income was $1.9 billion, 8.8% above the same period in 2019.  Operating profit was $2.2 billion, and adjusted operating profit was $2.3 billion, up 7.4% compared to last year’s second quarter.  
 
Diluted earnings per share was $2.03 and adjusted diluted earnings per share was $2.13, up 8.7% from the same period last year.  GAAP results included a pre-tax transformation charge of $112 million, equivalent to $0.10 per share.  In the prior year period, GAAP results included a pre-tax charge for transformation costs of $21 million, equivalent to $0.02 per share.  
 
“Our results were better than we expected, driven in part by the changes in demand that emerged from the pandemic, including a surge in residential volume, COVID-19 related healthcare shipments and strong outbound demand from Asia,” said Carol Tomé, UPS chief executive officer.  “UPSers are keeping the world moving during this time of need and I want to thank our team for their hard work and outstanding efforts to serve our customers, our communities and each other.” 
 
U.S. Domestic Segment
 
2Q 2020 Adjusted
2Q 2020
2Q 2019 Adjusted
2Q 2019
Revenue $13,074 M $11,150 M
Operating profit $1,182 M $ 1,215 M $1,208 M $1,226 M
 
•       Average daily volume increased 22.8%, reaching 21.1 million packages per day.
•       Demand for residential delivery surged in the quarter, driving B2C shipment growth up 65.2%.
•       Operating margin was 9.0%; adjusted operating margin was 9.3%.
 
International Segment
 
2Q 2020 Adjusted
2Q 2020
2Q 2019 Adjusted
2Q 2019
Revenue $3,705 M $3,505 M
Operating profit $771 M $ 842 M $663 M $665 M
 
•       Average daily volume grew 9.8%, driven by strong outbound demand from Asia and an increase in cross-border e-commerce in Europe.
•       Operating margin was 20.8%; adjusted operating margin was 22.7%.
 
* “Adjusted” amounts are non-GAAP financial measures. See the appendix to this release for a discussion of non-GAAP financial measures, including a reconciliation to the most closely correlated GAAP measure.
 
Supply Chain and Freight Segment
 
2Q 2020 Adjusted
2Q 2020
2Q 2019 Adjusted
2Q 2019
Revenue $3,680 M $3,393 M
Operating profit $259 M $ 267 M $272 M $273 M
 
•       Revenue increased 8.5%, driven by elevated air freight forwarding demand out of Asia, offset in part by weaker demand early in the quarter in the LTL and truckload brokerage units.
•       Operating margin was 7.0%; adjusted operating margin was 7.3%.
 
Outlook
 
UPS is not providing revenue and diluted earnings per share guidance due to the uncertainty around the timing and pace of the economic recovery.  The company is unable to predict the extent of the business impact or the duration of the coronavirus pandemic, or reasonably estimate its operating performance in future quarters.
 
“Using the scale and flexibility of our global integrated network, we successfully managed operational challenges throughout the quarter.  Moving forward we are focusing on efficiency and revenue quality to improve U.S. operating margins longer term,” said Brian Newman, UPS chief financial officer.  “Our liquidity and cash position remain strong, allowing us to invest in enabling capabilities through this time of unprecedented business disruption.”


Posted by : Dubai PR Network Editorial Team
Viewed 3916 times
PR Category : Travel & Tourism
Posted on : Wednesday, August 5, 2020  2:58:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Etihad Airways Reports Strong Start to 2020 With Second Quar...
Next Story : Riyadh Travel Fair 2020 Postponed for the 2nd Time this Year
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Parmigiani Fleurier Launches New Tonda Reine De Mai [5330-Views]
Make Up for Ever is Breaking Through With a Lipstick Revolution With Rouge Artist [4604-Views]
World Gold Council and its Members Highlight Commitment to Sustainable Development Goals ... [3210-Views]
Kantar to Launch the First BrandZ Top 30 Most Valuable Emirati and Saudi Brands [3075-Views]
WCU: Saudis Talk Up Oil; Strong Grain Momentum Continues [2956-Views]
Pasha de Cartier - ITW w/Ambassadors [2956-Views]
Iba Cosmetics Launches in the Middle East [2952-Views]
Danube Home Launches Its All New “My Garden 2021” E-Catalogue! [2936-Views]
Dubai Health Authority and Dubai Healthcare City Authority Sign MoU to Strengthen Partners... [2571-Views]
WTTC Launches New Report on the Future of Travel & Tourism in a Post-COVID World [2501-Views]
Be Flawless Trend Edition by essence #MinaXessence [2435-Views]
Back With a Bang: IMAGINE Returns to Dubai Festival City Mall's Festival Bay [2173-Views]
Aspiring Novelists Take Note: The Emirates Litfest Writing Prize is Now Open for 2021 [2148-Views]
5 Simple Ways to Amp Up Your Denim Game for Under AED 100 [2120-Views]
Etihad Airways Celebrates Its Pledge To the Kingdom of Saudi Arabia on Their 90th National... [2075-Views]
Dubai Festival City Mall Launches 2nd Edition of Dubai Home Festival [2070-Views]
Emirates SkyCargo Signs Humanitarian Logistics MoU with International Humanitarian City [2070-Views]
Ras Al Khaimah International Airport Has Secured the Repatriation of 53,000 Indian Citizen... [2066-Views]
Parmigiani Fleurier's New Tonda GT Line' [2009-Views]
New-in Comfy and Trendy Maternity Pieces from Mummyista [1935-Views]
Dubai Culture Reveals Children's Wishes in ‘My Library & Expo' Time Capsule [1911-Views]
Homegrown Concept NÜWATER – The UAE's First Alternative to Plastic Bottled Water [1898-Views]
Sony World Photography Awards 2021 Judges and New Competition Categories Announced [1837-Views]
Range Rover Velar Electrifies With Plug-in Hybrid and State-of-the-Art Infotainment [1751-Views]
Marhaba! Abu Dhabi Offers a Welcome Return to UFC Fight Island for Global Stars [1751-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories