UPS Releases 4Q 2020 Earnings

*Consolidated Revenue Increased 21.0% to $24.9B; Growth Across All Segments
*Consolidated Operating Profit Up 1.6% to $2.2B, Up 26.0% on an Adjusted* Basis
*Diluted EPS of ($3.75); Adjusted Diluted EPS of $2.66, Up 26.1%
*For the Year, Reported Highest Revenue and Adjusted Diluted Earnings Per Share in Company History

UPS (NYSE:UPS) today announced fourth-quarter 2020 consolidated revenue of $24.9 billion, a 21.0% increase over the fourth quarter of 2019. Consolidated average daily volume increased 10.6% year over year. Operating profit was $2.2 billion, up 1.6% compared to last year’s fourth quarter, or 26.0% on an adjusted basis. Net loss was $3.3 billion for the quarter; adjusted net income was $2.3 billion or 26.4% above the same period last year.

In the fourth quarter, diluted loss per share was $3.75, compared to a diluted loss per share of $0.12 in the fourth quarter of 2019. Adjusted diluted earnings per share (EPS) increased 26.1% to $2.66, compared to $2.11 from the same period last year.

For the fourth-quarter of 2020, GAAP results include a total charge of $5.6 billion, or $6.38 per diluted share, comprised of a non-cash, after-tax mark-to-market (MTM) pension charge of $4.9 billion, an after-tax transformation charge of $114 million and an after-tax impairment charge of $545 million associated with the Company’s decision to sell UPS Freight. The Company’s fourth-quarter 2019 GAAP results included a total charge of $1.9 billion, or $2.23 per diluted share, comprised of a non-cash, after-tax MTM pension charge of $1.8 billion, an after-tax transformation charge of $39 million and a U.S. Domestic after-tax legal reserve charge of $91 million.

“Our financial performance in the fourth quarter exceeded our expectations, and I thank all UPSers for their extraordinary efforts to deliver industry-leading service through the holidays.” said Carol Tomé, UPS chief executive officer. “I’d also like to thank our customers who worked with us during this challenging year. As we look past 2020 into the new year, we are optimistic. During the fourth quarter, we began transporting COVID-19 vaccines and we stand ready to deliver hope and health to people around the world.”
details at: https://www.pressroom.ups.com/pressroom/ContentDetailsViewer.page?ConceptType=PressReleases&id=1612221855033-104

Related Posts

Ulta Beauty Announces First Quarter Fiscal 2023 Results

For the First Quarter of Fiscal 2023 *Net sales increased 12.3% to $2.6 billion compared to $2.3 billion in the first quarter of fiscal 2022 due to increased comparable sales, strong new store performance, and growth in other revenue compared to the first quarter of fiscal 2022. *Gross profit increased 12.1% to $1.1 billion compared to $941.0 million in the first quarter of fiscal 2022. As a percentage of net sales, gross profit decreased to 40.0% compared to 40.1% in the first quarter of fiscal 2022, primarily due to higher inventory shrink, lower merchandise margins, higher supply chain costs, and deleverage of salon expenses, partially offset by strong growth in other revenue and leverage of store fixed costs. *Operating income increased 1.0% to $442.1 million, or 16.8% of net sales, compared to $437.7 million, or 18.7% of net sales, in the first quarter of fiscal 2022. *Net income increased 4.7% to $347.1 million compared to $331.4 million in the first quarter of fiscal 2022.

Chico’s FAS, Inc. Reports Fourth Quarter and Fiscal Year 2020 Results

For the fourth quarter, the Company reported a net loss of $79.1 million, compared to a net loss of $4.3 million, for the thirteen weeks ended February 1, 2020 ("last year's fourth quarter"). The fourth quarter net loss includes $35.9 million, in significant after-tax non-cash charges, including a deferred tax asset valuation allowance of $32.1 million, within the Company's income tax provision (benefit). See tabular details in the Summary of Significant Non-Cash Charges table below for further details. Last year's fourth quarter includes after-tax accelerated depreciation charges of $0.8 million. For fiscal 2020, the Company reported a net loss of $360.1 million, compared to a net loss of $12.8 million, for the fifty-two weeks ended February 1, 2020 ("fiscal 2019"). The net loss for fiscal 2020 includes $199.6 million, in significant after-tax non-cash charges. See tabular details in the Summary of Significant Non-Cash Charges table below for further details. The net loss for fiscal 2019 includes after-tax accelerated depreciation charges of $8.1 million, and the after-tax impact of severance and other related net charges of $2.1 million.

U.S. Postal Service Announces New Prices for 2018

The United States Postal Service filed notice with the Postal Regulatory Commission (PRC) of price changes to take effect Jan. 21, 2018. The new prices, if approved, include a one cent increase in the price of a First-Class Mail Forever stamp from 49 cents to 50 cents. Postcard stamps and metered letters would also have a one cent increase. Today’s filing does not include any price change for single-piece letters being mailed to international destinations or for additional ounces for letters. The proposed prices would raise Mailing Services product prices approximately 1.9 percent, and most Shipping Services products will average a 3.9 percent price increase. While Mailing Services price increases are limited based on the Consumer Price Index (CPI), Shipping Services prices are adjusted strategically, according to market conditions and the need to maintain affordable services for customers. Click Read More below for additional detail.
Back To Top
×Close search
Search