UPS (NYSE:UPS) today announced second-quarter 2016 diluted earnings
per share of $1.43, a 6% increase over the same period last
year. International operating profit increased 11% to $613
million, representing the sixth consecutive quarter of double-digit
growth.
Total revenue was $14.6 billion, up 3.8% over the same quarter
last year. Revenue growth was reduced by changes in fuel
surcharges and currency exchange rates. On a currency-neutral
basis, revenue increased 4.0%. Lower fuel surcharge rates
reduced revenue growth by approximately 120 basis points.
“We are investing to expand our global network, implementing new
technologies and capturing new revenue in high-growth markets,”
said David Abney, UPS chairman and CEO. “These strategic
investments in our diversified business again this quarter
generated strong value for our customers and shareowners.”
Cash Flow
For the six months ended June 30, UPS generated $4.7 billion in
cash from operations and $3.7 billion in free cash flow after
making capital expenditures of $1.0 billion. The company paid
dividends of about $1.3 billion, an increase of 6.8% per share over
the same quarter in 2015. UPS also repurchased 13.3 million
shares for approximately $1.3 billion.
U.S. Domestic Package
U.S. Domestic operating profit increased to $1.2 billion and
operating margin expanded 10 basis points to 13.7%.
Productivity improvements bolstered by technology, combined with
lower fuel costs, resulted in a 0.2% reduction in cost per unit
compared to the same quarter in 2015.
Total revenue increased 2.4% over the second quarter of 2015, to
$9.0 billion. Average daily package volume increased 2.5%,
with Next Day Air up 5.6% and Ground products up 2.4%. Strong
business-to-consumer (B2C) growth trends continued this quarter,
outpacing business delivery growth more than five to one.
Revenue per package was flat compared to the same period last
year. Fuel surcharge rates reduced yield growth by more than
100 basis points. Growth in base rates offset changes in
product and customer mix.
International
Package
International operating profit jumped more than 11% to $613
million, setting a record second-quarter level. Volume growth
in all products, disciplined pricing and network efficiency gains
contributed to the increase in profitability.
Revenue was up 1.1% compared to the prior year, however currency
was a drag of 40 basis points. Lower fuel surcharges reduced
revenue growth by approximately 170 basis points. Daily
Export packages increased 3.9%, as growth out of Europe and Asia
offset lower U.S. levels. The Europe-to-U.S. trade lane
increased at a double-digit pace, as customers used the UPS network
to benefit from the strength of the U.S. dollar. Export
shipments increased across all product categories and premium
products outpaced non-premium.
Revenue per package decreased 1.9%, and on a currency-neutral
basis revenue per package was down 1.4%. Lower fuel surcharge
rates reduced revenue per package growth by around 140 basis
points. Base rate improvements were offset by changes in
trade lane and customer mix.
Supply Chain &
Freight
Supply Chain and Freight revenue increased by more than 13%, to
$2.5 billion. This was mainly due to the acquisition of Coyote
Logistics in the third quarter of last year. Weak market
conditions in the Air Freight Forwarding and LTL markets weighed on
top-line growth.
The Forwarding business expanded operating margins through a
focus on revenue quality and operating cost reductions. The
asset-light, truckload brokerage business is performing well,
despite a continuing soft market.
The Distribution unit experienced strong revenue growth in the
Healthcare, Aerospace and Automotive sectors. During the
quarter, Healthcare became the highest revenue industry sector in
our contract logistics business. Operating profit increased
and operating margin expanded over the prior-year period.
UPS Freight LTL revenue per hundredweight increased 2.9% over
the same period last year. Total tonnage remains challenged
by current market conditions. The business unit remains
focused on disciplined revenue management and profitable trade
lanes.
Outlook
“UPS produced solid second quarter results, despite the
continued uncertainty in the macro economy,” said Richard Peretz,
UPS chief financial officer. “The technology and productivity
investments in our integrated network are delivering strong
results. We reaffirm our guidance for 2016 full-year diluted
earnings per share of $5.70 to $5.90.”
Conference Call Information:UPS CEO David Abney
and CFO Richard Peretz will discuss second quarter results with
investors and analysts during a conference call at 8:30 a.m. ET,
July 29, 2016. That call is open to listeners through a live
webcast. To access the call, go to www.investors.ups.com and
click on “Quarterly Earnings” then “Webcast.”
About UPSUPS (NYSE:UPS) is a global leader in
logistics, offering a broad range of solutions including the
transportation of packages and freight; the facilitation of
international trade, and the deployment of advanced technology to
more efficiently manage the world of business. Headquartered in
Atlanta, UPS serves more than 220 countries and territories
worldwide. The company can be found on the Web at ups.com® and its
corporate blog can be found at Longitudes.ups.com. To get UPS news
direct, visit pressroom.ups.com/RSS.
We supplement the reporting of our financial information
determined under generally accepted accounting principles ("GAAP")
with certain non-GAAP financial measures, including, as applicable,
"as adjusted" operating profit, operating margin, pre-tax income,
net income and earnings per share. The equivalent measures
determined in accordance with GAAP are also referred to as
"reported" or "unadjusted.” Additionally, we disclose free cash
flow as well as revenue and revenue per piece growth adjusted for
the impact of foreign currency. We believe that these adjusted
measures provide meaningful information to assist investors and
analysts in understanding our financial results and assessing our
prospects for future performance. We believe these adjusted
financial measures are important indicators of our recurring
operations because they exclude items that may not be indicative
of, or are unrelated to, our core operating results, and provide a
better baseline for analyzing trends in our underlying businesses.
Furthermore, we use these adjusted financial measures to determine
awards for our management personnel under our incentive
compensation plans.
Free cash flow is defined as net cash from operations less
capital expenditures, proceeds from disposals of property, plant
and equipment, net change in finance receivables and other
investing activities. We believe this metric is an important
indicator of how much cash is generated by regular business
operations and we use it as a measure of cash available to meet
debt obligations and return cash to shareowners.
Because non-GAAP financial measures are not standardized, it may
not be possible to compare these financial measures with other
companies' non-GAAP financial measures having the same or similar
names. These adjusted financial measures should not be considered
in isolation or as a substitute for GAAP revenue, operating profit,
operating margin, income before taxes, net income, earnings per
share and cash flow from operations, which are the most directly
comparable GAAP financial measures. These non-GAAP financial
measures reflect an additional way of viewing aspects of our
operations that, when viewed with our GAAP results and the
preceding reconciliations to corresponding GAAP financial measures,
provide a more complete understanding of our business. We strongly
encourage investors to review our financial statements and
publicly-filed reports in their entirety and not to rely on any
single financial measure.
Except for historical information contained herein, the
statements made in this release constitute forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from our historical experience and our present expectations or
anticipated results. These risks and uncertainties include, but are
not limited to: general economic conditions, both in the U.S. and
internationally; significant competition on a local, regional,
national, and international basis; changes in our relationships
with our significant customers; the existing complex and stringent
regulation in the U.S. and internationally, changes to which can
impact our business; increased security requirements that may
increase our costs of operations and reduce operating efficiencies;
legal, regulatory or market responses to global climate change;
negotiation and ratification of labor contracts; strikes, work
stoppages and slowdowns by our employees; the effects of changing
prices of energy, including gasoline, diesel and jet fuel, and
interruptions in supplies of these commodities; changes in exchange
rates or interest rates; our ability to maintain the image of our
brand; breaches in data security; disruptions to the Internet or
our technology infrastructure; our ability to accurately forecast
our future capital investment needs; exposure to changing economic,
political and social developments in international and emerging
markets; changes in business strategy, government regulations, or
economic or market conditions that may result in substantial
impairment of our assets; increases in our expenses or funding
obligations relating to employee health, retiree health and/or
pension benefits; the potential for various claims and litigation
related to labor and employment, personal injury, property damage,
business practices, environmental liability and other matters; our
ability to realize the anticipated benefits from acquisitions,
joint ventures or strategic alliances; our ability to manage
insurance and claims expenses; and other risks discussed in our
filings with the Securities and Exchange Commission from time to
time, including our Annual Report on Form 10-K for the year ended
December 31, 2015, or described from time to time in our
future reports filed with the Securities and Exchange Commission.
You should consider the limitations on, and risks associated with,
forward-looking statements and not unduly rely on the accuracy of
predictions contained in such forward-looking statements. We do not
undertake any obligation to update forward-looking statements to
reflect events, circumstances, changes in expectations, or the
occurrence of unanticipated events after the date of those
statements.
|
Three Months Ended |
|
|
|
June 30 |
|
|
|
2016 |
|
|
|
2015 |
|
|
Change |
|
% Change |
(amounts
in millions, except per share data) |
|
|
|
|
|
|
|
Statement of
Income Data: |
|
|
|
|
|
|
|
Revenue: |
|
|
|
|
|
|
|
U.S. Domestic
Package |
$ |
9,015 |
|
|
$ |
8,808 |
|
|
$ |
207 |
|
|
|
2.4 |
% |
International
Package |
|
3,077 |
|
|
|
3,045 |
|
|
|
32 |
|
|
|
1.1 |
% |
Supply Chain
& Freight |
|
2,537 |
|
|
|
2,242 |
|
|
|
295 |
|
|
|
13.2 |
% |
Total
revenue |
|
14,629 |
|
|
|
14,095 |
|
|
|
534 |
|
|
|
3.8 |
% |
|
|
|
|
|
|
|
|
Operating
expenses: |
|
|
|
|
|
|
|
Compensation and
benefits |
|
7,738 |
|
|
|
7,502 |
|
|
|
236 |
|
|
|
3.1 |
% |
Other |
|
4,853 |
|
|
|
4,633 |
|
|
|
220 |
|
|
|
4.7 |
% |
Total operating
expenses |
|
12,591 |
|
|
|
12,135 |
|
|
|
456 |
|
|
|
3.8 |
% |
|
|
|
|
|
|
|
|
Operating profit: |
|
|
|
|
|
|
|
U.S. Domestic
Package |
|
1,233 |
|
|
|
1,201 |
|
|
|
32 |
|
|
|
2.7 |
% |
International
Package |
|
613 |
|
|
|
552 |
|
|
|
61 |
|
|
|
11.1 |
% |
Supply Chain
& Freight |
|
192 |
|
|
|
207 |
|
|
|
(15 |
) |
|
|
-7.2 |
% |
Total operating
profit |
|
2,038 |
|
|
|
1,960 |
|
|
|
78 |
|
|
|
4.0 |
% |
|
|
|
|
|
|
|
|
Other income
(expense): |
|
|
|
|
|
|
|
Investment
income and other |
|
8 |
|
|
|
4 |
|
|
|
4 |
|
|
|
100.0 |
% |
Interest
expense |
|
(94 |
) |
|
|
(86 |
) |
|
|
(8 |
) |
|
|
9.3 |
% |
Total other
income (expense) |
|
(86 |
) |
|
|
(82 |
) |
|
|
(4 |
) |
|
|
4.9 |
% |
|
|
|
|
|
|
|
|
Income before income
taxes |
|
1,952 |
|
|
|
1,878 |
|
|
|
74 |
|
|
|
3.9 |
% |
|
|
|
|
|
|
|
|
Income tax
expense |
|
683 |
|
|
|
648 |
|
|
|
35 |
|
|
|
5.4 |
% |
|
|
|
|
|
|
|
|
Net income |
$ |
1,269 |
|
|
$ |
1,230 |
|
|
$ |
39 |
|
|
|
3.2 |
% |
|
|
|
|
|
|
|
|
Net income as a
percentage of revenue |
|
8.7 |
% |
|
|
8.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Per share amounts: |
|
|
|
|
|
|
|
Basic earnings
per share |
$ |
1.43 |
|
|
$ |
1.37 |
|
|
$ |
0.06 |
|
|
|
4.4 |
% |
Diluted earnings
per share |
$ |
1.43 |
|
|
$ |
1.35 |
|
|
$ |
0.08 |
|
|
|
5.9 |
% |
|
|
|
|
|
|
|
|
Weighted-average shares
outstanding: |
|
|
|
|
|
|
|
Basic |
|
886 |
|
|
|
901 |
|
|
|
(15 |
) |
|
|
-1.7 |
% |
Diluted |
|
890 |
|
|
|
908 |
|
|
|
(18 |
) |
|
|
-2.0 |
% |
|
Three Months Ended |
|
|
|
|
|
June 30 |
|
|
|
2016 |
|
|
|
2015 |
|
|
Change |
|
% Change |
|
|
|
|
|
|
|
|
Revenue (in
millions): |
|
|
|
|
|
|
|
U.S. Domestic
Package: |
|
|
|
|
|
|
|
Next Day
Air |
$ |
1,637 |
|
|
$ |
1,591 |
|
|
$ |
46 |
|
|
|
2.9 |
% |
Deferred |
|
899 |
|
|
|
878 |
|
|
|
21 |
|
|
|
2.4 |
% |
Ground |
|
6,479 |
|
|
|
6,339 |
|
|
|
140 |
|
|
|
2.2 |
% |
Total U.S. Domestic Package |
|
9,015 |
|
|
|
8,808 |
|
|
|
207 |
|
|
|
2.4 |
% |
International
Package: |
|
|
|
|
|
|
|
Domestic |
|
621 |
|
|
|
600 |
|
|
|
21 |
|
|
|
3.5 |
% |
Export |
|
2,326 |
|
|
|
2,283 |
|
|
|
43 |
|
|
|
1.9 |
% |
Cargo and
Other |
|
130 |
|
|
|
162 |
|
|
|
(32 |
) |
|
|
-19.8 |
% |
Total International Package |
|
3,077 |
|
|
|
3,045 |
|
|
|
32 |
|
|
|
1.1 |
% |
Supply Chain &
Freight: |
|
|
|
|
|
|
|
Forwarding and
Logistics |
|
1,659 |
|
|
|
1,319 |
|
|
|
340 |
|
|
|
25.8 |
% |
Freight |
|
693 |
|
|
|
752 |
|
|
|
(59 |
) |
|
|
-7.8 |
% |
Other |
|
185 |
|
|
|
171 |
|
|
|
14 |
|
|
|
8.2 |
% |
Total Supply Chain & Freight |
|
2,537 |
|
|
|
2,242 |
|
|
|
295 |
|
|
|
13.2 |
% |
Consolidated |
$ |
14,629 |
|
|
$ |
14,095 |
|
|
$ |
534 |
|
|
|
3.8 |
% |
|
|
|
|
|
|
|
|
Consolidated volume (in
millions) |
|
1,132 |
|
|
|
1,101 |
|
|
|
31 |
|
|
|
2.8 |
% |
|
|
|
|
|
|
|
|
Operating weekdays |
|
64 |
|
|
|
64 |
|
|
|
- |
|
|
|
0.0 |
% |
|
|
|
|
|
|
|
|
Average Daily Package Volume (in thousands): |
|
|
|
|
|
|
U.S. Domestic
Package: |
|
|
|
|
|
|
|
Next Day
Air |
|
1,311 |
|
|
|
1,241 |
|
|
|
70 |
|
|
|
5.6 |
% |
Deferred |
|
1,129 |
|
|
|
1,132 |
|
|
|
(3 |
) |
|
|
-0.3 |
% |
Ground |
|
12,489 |
|
|
|
12,192 |
|
|
|
297 |
|
|
|
2.4 |
% |
Total U.S. Domestic Package |
|
14,929 |
|
|
|
14,565 |
|
|
|
364 |
|
|
|
2.5 |
% |
International
Package: |
|
|
|
|
|
|
|
Domestic |
|
1,599 |
|
|
|
1,530 |
|
|
|
69 |
|
|
|
4.5 |
% |
Export |
|
1,159 |
|
|
|
1,115 |
|
|
|
44 |
|
|
|
3.9 |
% |
Total International Package |
|
2,758 |
|
|
|
2,645 |
|
|
|
113 |
|
|
|
4.3 |
% |
Consolidated |
|
17,687 |
|
|
|
17,210 |
|
|
|
477 |
|
|
|
2.8 |
% |
|
|
|
|
|
|
|
|
Average Revenue
Per Piece: |
|
|
|
|
|
|
|
U.S. Domestic
Package: |
|
|
|
|
|
|
|
Next Day
Air |
$ |
19.51 |
|
|
$ |
20.03 |
|
|
$ |
(0.52 |
) |
|
|
-2.6 |
% |
Deferred |
|
12.44 |
|
|
|
12.12 |
|
|
|
0.32 |
|
|
|
2.6 |
% |
Ground |
|
8.11 |
|
|
|
8.12 |
|
|
|
(0.01 |
) |
|
|
-0.1 |
% |
Total U.S. Domestic Package |
|
9.44 |
|
|
|
9.45 |
|
|
|
(0.01 |
) |
|
|
-0.1 |
% |
International
Package: |
|
|
|
|
|
|
|
Domestic |
|
6.07 |
|
|
|
6.13 |
|
|
|
(0.06 |
) |
|
|
-1.0 |
% |
Export |
|
31.36 |
|
|
|
31.99 |
|
|
|
(0.63 |
) |
|
|
-2.0 |
% |
Total International Package |
|
16.70 |
|
|
|
17.03 |
|
|
|
(0.33 |
) |
|
|
-1.9 |
% |
Consolidated |
$ |
10.57 |
|
|
$ |
10.61 |
|
|
$ |
(0.04 |
) |
|
|
-0.4 |
% |
2016 Revenue Per Piece Adjusted to Reflect
2015 Currency Exchange Rates |
(unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
|
|
|
|
|
|
|
June 30 |
|
|
|
Adjusted |
|
|
2016 |
|
|
|
2015 |
|
|
% Change |
|
Currency |
|
2016* |
|
% Change |
|
|
|
|
|
|
|
|
|
|
|
|
Average Revenue
Per Piece: |
|
|
|
|
|
|
|
|
|
|
|
International
Package: |
|
|
|
|
|
|
|
|
|
|
|
Domestic |
$ |
6.07 |
|
|
$ |
6.13 |
|
|
|
-1.0 |
% |
|
$ |
0.12 |
|
|
$ |
6.19 |
|
|
|
1.0 |
% |
Export |
|
31.36 |
|
|
|
31.99 |
|
|
|
-2.0 |
% |
|
|
0.05 |
|
|
|
31.41 |
|
|
|
-1.8 |
% |
Total International Package |
$ |
16.70 |
|
|
$ |
17.03 |
|
|
|
-1.9 |
% |
|
$ |
0.09 |
|
|
$ |
16.79 |
|
|
|
-1.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated |
$ |
10.57 |
|
|
$ |
10.61 |
|
|
|
-0.4 |
% |
|
$ |
0.01 |
|
|
$ |
10.58 |
|
|
|
-0.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
* Adjusted
amounts reflect impacts for currency exchange rate
differences |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2016 Revenue Adjusted to Reflect 2015 Currency
Exchange Rates |
(unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
|
|
|
|
|
|
|
June 30 |
|
|
|
Adjusted |
|
|
2016 |
|
|
|
2015 |
|
|
% Change |
|
Currency |
|
2016* |
|
% Change |
Revenue (in
millions): |
|
|
|
|
|
|
|
|
|
|
|
U.S. Domestic
Package |
$ |
9,015 |
|
|
$ |
8,808 |
|
|
|
2.4 |
% |
|
$ |
- |
|
|
$ |
9,015 |
|
|
|
2.4 |
% |
International
Package |
|
3,077 |
|
|
|
3,045 |
|
|
|
1.1 |
% |
|
|
15 |
|
|
|
3,092 |
|
|
|
1.5 |
% |
Supply Chain
& Freight |
|
2,537 |
|
|
|
2,242 |
|
|
|
13.2 |
% |
|
|
9 |
|
|
|
2,546 |
|
|
|
13.6 |
% |
Total
revenue |
$ |
14,629 |
|
|
$ |
14,095 |
|
|
|
3.8 |
% |
|
$ |
24 |
|
|
$ |
14,653 |
|
|
|
4.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
* Adjusted
amounts reflect impacts for currency exchange rate
differences |
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended |
|
|
|
June 30 |
|
|
|
2016 |
|
|
|
2015 |
|
|
Change |
|
% Change |
(amounts
in millions, except per share data) |
|
|
|
|
|
|
|
Statement of
Income Data: |
|
|
|
|
|
|
|
Revenue: |
|
|
|
|
|
|
|
U.S. Domestic
Package |
$ |
18,099 |
|
|
$ |
17,622 |
|
|
$ |
477 |
|
|
|
2.7 |
% |
International
Package |
|
5,991 |
|
|
|
6,015 |
|
|
|
(24 |
) |
|
|
-0.4 |
% |
Supply Chain
& Freight |
|
4,957 |
|
|
|
4,435 |
|
|
|
522 |
|
|
|
11.8 |
% |
Total
revenue |
|
29,047 |
|
|
|
28,072 |
|
|
|
975 |
|
|
|
3.5 |
% |
|
|
|
|
|
|
|
|
Operating
expenses: |
|
|
|
|
|
|
|
Compensation and
benefits |
|
15,591 |
|
|
|
15,066 |
|
|
|
525 |
|
|
|
3.5 |
% |
Other |
|
9,595 |
|
|
|
9,373 |
|
|
|
222 |
|
|
|
2.4 |
% |
Total operating
expenses |
|
25,186 |
|
|
|
24,439 |
|
|
|
747 |
|
|
|
3.1 |
% |
|
|
|
|
|
|
|
|
Operating profit: |
|
|
|
|
|
|
|
U.S. Domestic
Package |
|
2,335 |
|
|
|
2,225 |
|
|
|
110 |
|
|
|
4.9 |
% |
International
Package |
|
1,187 |
|
|
|
1,050 |
|
|
|
137 |
|
|
|
13.0 |
% |
Supply Chain
& Freight |
|
339 |
|
|
|
358 |
|
|
|
(19 |
) |
|
|
-5.3 |
% |
Total operating
profit |
|
3,861 |
|
|
|
3,633 |
|
|
|
228 |
|
|
|
6.3 |
% |
|
|
|
|
|
|
|
|
Other income
(expense): |
|
|
|
|
|
|
|
Investment
income and other |
|
25 |
|
|
|
8 |
|
|
|
17 |
|
|
|
N/A |
|
Interest
expense |
|
(187 |
) |
|
|
(173 |
) |
|
|
(14 |
) |
|
|
8.1 |
% |
Total other
income (expense) |
|
(162 |
) |
|
|
(165 |
) |
|
|
3 |
|
|
|
-1.8 |
% |
|
|
|
|
|
|
|
|
Income before income
taxes |
|
3,699 |
|
|
|
3,468 |
|
|
|
231 |
|
|
|
6.7 |
% |
|
|
|
|
|
|
|
|
Income tax
expense |
|
1,299 |
|
|
|
1,212 |
|
|
|
87 |
|
|
|
7.2 |
% |
|
|
|
|
|
|
|
|
Net income |
$ |
2,400 |
|
|
$ |
2,256 |
|
|
$ |
144 |
|
|
|
6.4 |
% |
|
|
|
|
|
|
|
|
Net income as a
percentage of revenue |
|
8.3 |
% |
|
|
8.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Per share amounts: |
|
|
|
|
|
|
|
Basic earnings
per share |
$ |
2.71 |
|
|
$ |
2.50 |
|
|
$ |
0.21 |
|
|
|
8.4 |
% |
Diluted earnings
per share |
$ |
2.69 |
|
|
$ |
2.48 |
|
|
$ |
0.21 |
|
|
|
8.5 |
% |
|
|
|
|
|
|
|
|
Weighted-average shares
outstanding: |
|
|
|
|
|
|
|
Basic |
|
887 |
|
|
|
903 |
|
|
|
(16 |
) |
|
|
-1.8 |
% |
Diluted |
|
892 |
|
|
|
911 |
|
|
|
(19 |
) |
|
|
-2.1 |
% |
|
Six Months Ended |
|
|
|
|
|
June 30 |
|
|
|
2016 |
|
|
|
2015 |
|
|
Change |
|
% Change |
|
|
|
|
|
|
|
|
Revenue (in
millions): |
|
|
|
|
|
|
|
U.S. Domestic
Package: |
|
|
|
|
|
|
|
Next Day
Air |
$ |
3,212 |
|
|
$ |
3,148 |
|
|
$ |
64 |
|
|
|
2.0 |
% |
Deferred |
|
1,814 |
|
|
|
1,774 |
|
|
|
40 |
|
|
|
2.3 |
% |
Ground |
|
13,073 |
|
|
|
12,700 |
|
|
|
373 |
|
|
|
2.9 |
% |
Total U.S. Domestic Package |
|
18,099 |
|
|
|
17,622 |
|
|
|
477 |
|
|
|
2.7 |
% |
International
Package: |
|
|
|
|
|
|
|
Domestic |
|
1,195 |
|
|
|
1,205 |
|
|
|
(10 |
) |
|
|
-0.8 |
% |
Export |
|
4,529 |
|
|
|
4,483 |
|
|
|
46 |
|
|
|
1.0 |
% |
Cargo and
Other |
|
267 |
|
|
|
327 |
|
|
|
(60 |
) |
|
|
-18.3 |
% |
Total International Package |
|
5,991 |
|
|
|
6,015 |
|
|
|
(24 |
) |
|
|
-0.4 |
% |
Supply Chain &
Freight: |
|
|
|
|
|
|
|
Forwarding and
Logistics |
|
3,245 |
|
|
|
2,649 |
|
|
|
596 |
|
|
|
22.5 |
% |
Freight |
|
1,349 |
|
|
|
1,462 |
|
|
|
(113 |
) |
|
|
-7.7 |
% |
Other |
|
363 |
|
|
|
324 |
|
|
|
39 |
|
|
|
12.0 |
% |
Total Supply Chain & Freight |
|
4,957 |
|
|
|
4,435 |
|
|
|
522 |
|
|
|
11.8 |
% |
Consolidated |
$ |
29,047 |
|
|
$ |
28,072 |
|
|
$ |
975 |
|
|
|
3.5 |
% |
|
|
|
|
|
|
|
|
Consolidated volume (in
millions) |
|
2,273 |
|
|
|
2,202 |
|
|
|
71 |
|
|
|
3.2 |
% |
|
|
|
|
|
|
|
|
Operating weekdays |
|
128 |
|
|
|
127 |
|
|
|
1 |
|
|
|
0.8 |
% |
|
|
|
|
|
|
|
|
Average Daily Package Volume (in thousands): |
|
|
|
|
|
|
U.S. Domestic
Package: |
|
|
|
|
|
|
|
Next Day
Air |
|
1,289 |
|
|
|
1,235 |
|
|
|
54 |
|
|
|
4.4 |
% |
Deferred |
|
1,163 |
|
|
|
1,175 |
|
|
|
(12 |
) |
|
|
-1.0 |
% |
Ground |
|
12,606 |
|
|
|
12,255 |
|
|
|
351 |
|
|
|
2.9 |
% |
Total U.S. Domestic Package |
|
15,058 |
|
|
|
14,665 |
|
|
|
393 |
|
|
|
2.7 |
% |
International
Package: |
|
|
|
|
|
|
|
Domestic |
|
1,558 |
|
|
|
1,553 |
|
|
|
5 |
|
|
|
0.3 |
% |
Export |
|
1,145 |
|
|
|
1,120 |
|
|
|
25 |
|
|
|
2.2 |
% |
Total International Package |
|
2,703 |
|
|
|
2,673 |
|
|
|
30 |
|
|
|
1.1 |
% |
Consolidated |
|
17,761 |
|
|
|
17,338 |
|
|
|
423 |
|
|
|
2.4 |
% |
|
|
|
|
|
|
|
|
Average Revenue
Per Piece: |
|
|
|
|
|
|
|
U.S. Domestic
Package: |
|
|
|
|
|
|
|
Next Day
Air |
$ |
19.47 |
|
|
$ |
20.07 |
|
|
$ |
(0.60 |
) |
|
|
-3.0 |
% |
Deferred |
|
12.19 |
|
|
|
11.89 |
|
|
|
0.30 |
|
|
|
2.5 |
% |
Ground |
|
8.10 |
|
|
|
8.16 |
|
|
|
(0.06 |
) |
|
|
-0.7 |
% |
Total U.S. Domestic Package |
|
9.39 |
|
|
|
9.46 |
|
|
|
(0.07 |
) |
|
|
-0.7 |
% |
International
Package: |
|
|
|
|
|
|
|
Domestic |
|
5.99 |
|
|
|
6.11 |
|
|
|
(0.12 |
) |
|
|
-2.0 |
% |
Export |
|
30.90 |
|
|
|
31.52 |
|
|
|
(0.62 |
) |
|
|
-2.0 |
% |
Total International Package |
|
16.54 |
|
|
|
16.76 |
|
|
|
(0.22 |
) |
|
|
-1.3 |
% |
Consolidated |
$ |
10.48 |
|
|
$ |
10.59 |
|
|
$ |
(0.11 |
) |
|
|
-1.0 |
% |
2016 Revenue Per Piece Adjusted to Reflect
2015 Currency Exchange Rates |
(unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended |
|
|
|
|
|
|
|
|
|
June 30 |
|
|
|
Adjusted |
|
|
2016 |
|
|
|
2015 |
|
|
% Change |
|
Currency |
|
2016* |
|
% Change |
|
|
|
|
|
|
|
|
|
|
|
|
Average Revenue
Per Piece: |
|
|
|
|
|
|
|
|
|
|
|
International
Package: |
|
|
|
|
|
|
|
|
|
|
|
Domestic |
$ |
5.99 |
|
|
$ |
6.11 |
|
|
|
-2.0 |
% |
|
$ |
0.23 |
|
|
$ |
6.22 |
|
|
|
1.8 |
% |
Export |
|
30.90 |
|
|
|
31.52 |
|
|
|
-2.0 |
% |
|
|
0.23 |
|
|
|
31.13 |
|
|
|
-1.2 |
% |
Total International Package |
$ |
16.54 |
|
|
$ |
16.76 |
|
|
|
-1.3 |
% |
|
$ |
0.23 |
|
|
$ |
16.77 |
|
|
|
0.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated |
$ |
10.48 |
|
|
$ |
10.59 |
|
|
|
-1.0 |
% |
|
$ |
0.03 |
|
|
$ |
10.51 |
|
|
|
-0.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
* Adjusted
amounts reflect impacts for currency exchange rate differences |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2016 Revenue Adjusted to Reflect 2015 Currency
Exchange Rates |
(unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended |
|
|
|
|
|
|
|
|
|
June 30 |
|
|
|
Adjusted |
|
|
2016 |
|
|
|
2015 |
|
|
% Change |
|
Currency |
|
2016* |
|
% Change |
Revenue (in
millions): |
|
|
|
|
|
|
|
|
|
|
|
U.S. Domestic
Package |
$ |
18,099 |
|
|
$ |
17,622 |
|
|
|
2.7 |
% |
|
$ |
- |
|
|
$ |
18,099 |
|
|
|
2.7 |
% |
International
Package |
|
5,991 |
|
|
|
6,015 |
|
|
|
-0.4 |
% |
|
|
74 |
|
|
|
6,065 |
|
|
|
0.8 |
% |
Supply Chain
& Freight |
|
4,957 |
|
|
|
4,435 |
|
|
|
11.8 |
% |
|
|
32 |
|
|
|
4,989 |
|
|
|
12.5 |
% |
Total
revenue |
$ |
29,047 |
|
|
$ |
28,072 |
|
|
|
3.5 |
% |
|
$ |
106 |
|
|
$ |
29,153 |
|
|
|
3.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
* Adjusted
amounts reflect impacts for currency exchange rate
differences |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Certain
prior year amounts have been reclassified to conform to the current
year presentation. |
|
Preliminary |
|
Year-to-Date |
(amounts in
millions) |
|
June 30 |
Net cash from
operations |
|
$ |
4,693 |
|
Capital
expenditures |
|
|
(963 |
) |
Proceeds from disposals
of PP&E |
|
|
11 |
|
Net change in finance
receivables |
|
|
(13 |
) |
Other investing
activities |
|
|
(35 |
) |
Free cash
flow |
|
$ |
3,693 |
|
|
|
Amounts are
subject to reclassification. |
|
Contacts:
Steve Gaut, Public Relations
404-828-8787
Scott Childress, Investor Relations
404-828-7957
United Parcel Service (NYSE:UPS)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
United Parcel Service (NYSE:UPS)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024