UPS Profits
UPS Profits Up Again
The economy made be down but UPS’s profits continue to go up.
Company execs announced that UPS made $1.04 Billion in profits in the third quarter. Brown’s profits increased by 5 percent compared to the third quarter last year and by 89 percent over its third quarter profits in 2009.
UPS Exec Brags About Low Wage Increases for Teamsters
UPS Chief Financial Officer Kurt Kuehn bragged to investors that UPS Teamsters will continue to get “below-inflation increases in wages” under the concessionary contract negotiated by Hoffa and Hall in 2008.
UPS 2Q Profits up 26%
UPS made $1.06 Billion in profits after taxes from April to June this year. That’s an increase of 26 percent (or more than $150 million) over the $845 million in profits the company made during the same period last year.
UPS Profits Up 66 Percent
UPS executives announced that the company hauled in $885 million in profits after taxes in the first quarter of 2011. That’s a 66 percent increase from the $533 million in profits Brown made in the first quarter of 2010. Revenue jumped 7 percent to $12.58 billion. Read the rest …
UPS Profits Soar to $5.8 Billion
UPS profits soared to $5.8 billion after taxes in 2010, the company announced on Feb. 1. Brown’s profits hit $1.8 billion for the fourth quarter, including peak. In all, the company had $49.8 billion of revenue for the year.
The corporation’s profits went up much faster than its revenue—a 48 percent increase in profits, compared to an 8 percent rise in revenue. Why? Because UPS is squeezing more profit out of each employee by cutting and combining routes, layoffs, production harassment, supervisors working, 9.5 violations.
UPS Third Quarter Profits
UPS executives announced the company made $991 million in the third quarter. Brown’s profits increased by more than 80 percent compared to the third quarter last year. That’s $442 million more in profits—after taxes.
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2010 Second Quarter Profits Nearly Double
August 2010: Profits are skyrocketing at UPS while working conditions continue to bottom out.
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UPS Profits Up 33 Percent
UPS executives announced that the company hauled in $533 million in profits after taxes in the first quarter of 2010. Brown’s profits are up by 33 percent or $132 million compared to the first quarter last year.
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UPS CEO Compensation—$6.24 Million
Scott Davis, the chairman and chief executive officer of UPS, was paid a whopping $6.24 million last year.
The figure is actually slightly down from the $6.28 million Davis bagged in 2008. But don’t feel too bad for Brown’s CEO. Davis’s pay more than doubled in 2008, going from $2.6 million to $6.28 million, a 141 percent increase! (This is the same year UPS Teamsters got a 35 cent raise.) Read the rest …
Management Pay Freeze Over in 2010
UPS announced that it will end its freeze on salary increases for management.
UPS spokesperson Norman Black told the Wall Street Journal that management employees can get salary increases this year because of signs that the economy is improving. But the Wall Street Journal reports that managers will have to “achieve various performance benchmarks” to get them.
Performance benchmarks? Could this mean even more production harassment and speedup for working Teamsters? It’s time for the International Union to do something about protecting Teamster members. Read the rest …
UPS Profits Tripled in Fourth Quarter
UPS raked in $757 million in profits in the Fourth Quarter—nearly tripling its profits over the same period last year. Overall, Brown made $2.15 billion in profits in 2009. That’s after taxes.
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UPS Triples Profits in the Fourth Quarter
UPS raked in $757 million in profits in the Fourth Quarter—nearly tripling its profits over the same period last year. Overall, Brown made $2.15 billion in profits in 2009. That’s after taxes.
UPS Makes $549 Million in Third Quarter
UPS announced after-tax profits of $549 million for the third quarter of 2009 (July-Sept), up from $445 million in the second quarter.
It’s no surprise that in this economy, UPS’s profits are down from last year. UPS made $970 million in the second quarter of 2008. But UPS is still making big money—and still beating the competition.
In a terrible economy, UPS has hauled in $1.4 billion in after-tax profits since the beginning of the year.
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UPS Makes $445 Million in 2nd Quarter
UPS announced after-tax profits of $445 million for the second quarter of 2009, up from $401 million in the first quarter.
Given the global economic downturn, UPS’s volume and profits are both down from last year. UPS made $873 million in the second quarter of 2008. Market Watch reports that Brown’s earnings were in line with analyst expectations. Read the rest …
UPS Makes Over $400 Million in First Quarter
UPS made over $400 million in profit after taxes in the first-quarter this year.
As expected, the company’s revenue and profits dropped compared to the first three months of last year. UPS’s first quarter profits last year were $906 million, compared to $401 million this year.
Revenue fell by 13 percent to $10.9 billion for the first quarter—95 percent of the $11.5 billion predicted by Wall Street analysts.
UPS is widely used as a barometer of the economy in general. It’s no surprise that Brown has been affected by the worst economy since the Great Depression.
UPS profits are down. But how many other companies would like to be announcing $401 million in first quarter profits these days?
Click here to read UPS profit falls 56% as the global economy ships less Read the rest …
