UPS Profits
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 …
Pay for UPS CEO More than Doubled in 2008
United Parcel Service Inc. boosted Chairman and CEO Scott Davis’ total compensation by 115 percent in 2008. This is the same year that UPS Teamsters got a 35 cent raise.
In all, Davis made a whopping $5.6 million last year, including $3.2 million in stock awards. Davis’s salary was hiked to $1 million, including a $40,000 bonus. Read the rest …
UPS Pinches Pennies to Preserve Profits
Brown is pinching pennies to preserve corporate profits. And no solution is too petty—especially if it transfers money from the workforce to the corporation.
The company has suspended Safe Driver Awards and Year of Service awards. No more watches or home entertainment centers. Now you get a pin and a pat on the back—even for 35 years of service! And no more holiday turkeys this year according to some reports.
Are these cutbacks happening where you work? And what do you think of it? Click here to speak your mind. Read the rest …
UPS Profitable In Tough Economy
UPS has released its financial numbers for the fourth quarter of 2008. Brown continues to haul in substantial profits.
Despite the worst economic conditions in 70 years, UPS made $829 million from Oct. to Dec. 2008. Revenue went up 3.6 percent in 2008 to $51.5 billion. For the full year, UPS made an operating profit of $5.4 billion and after-tax profits of $3 billion. Read the rest …
UPS Reports Second Quarter Profits of $873 Million
July 22: UPS reported second quarter profits of $873 million yesterday. Overall UPS revenue climbed 6.7 percent to over $13 billion for the same period.
Revenue from the company’s logistics and UPS Freight operations grew faster than the rest of the company, by 10.9 percent to $2.3 billion.
UPS’s second quarter profits were down from $1.1 billion last year, due to a weak economy and high fuel prices.
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UPS 1st Quarter Profits Are Up 7.5 Percent
Company Lowers Outlook for the Year
The Associated Press reported that UPS announced on Wednesday that its profit rose 7.5 percent in the first quarter, though it was affected by the weakening U.S. economy.
The company lowered its earnings guidance for the year. The results reported for the most recent quarter were in line with Wall Street expectations.
After-tax profits rose to $906 million, or 87 cents a share, for the January-March quarter, compared $843 million, or 78 cents a share, for the same period last year.
Revenue in the quarter rose 6.5 percent to $12.68 billion, compared to $11.91 billion recorded a year earlier. Read the rest …
UPS Posts Quarterly Loss—But Don’t Cry for the Company Just Yet
UPS reported a quarterly loss on Wednesday due to its $6.1 billion one-time payment to the Central States Pension fund. (Reuters, Jan. 30, 2008)
Brown reported a fourth-quarter net loss of $2.58 billion, or $2.46 a share, compared with a net profit of $1.13 billion, or $1.04 a share, a year earlier.
But the picture is rosier than it sounds—for UPS stockholders at least.
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UPS Reports Third Quarter Profit
UPS announced its quarterly earnings today.
The company made $1.08 Billion in after-tax profits for the third quarter, and has made over $3 Billion so far this year.
Does this seem like a company that needs givebacks?
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