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UPS Posts Record Earnings
Posted By makeupsdeliver On February 1, 2013 @ 11:25 am In UPS Profits | No Comments
January 31, 2013: UPS announced record Fourth Quarter and Annual adjusted earnings in a company statement today.
UPS made profits of $2.05 billion excluding a big one-time pension accounting charge.
The company’s fourth quarter profits looked like a loss thanks to an accounting gimmick. UPS took a massive one-time $3 billion “non-cash charge” on company pension and benefit plans. This charge did not affect the company’s cash flow or benefits paid to participants.
Click read the rest for more details on UPS profits.
Another one-time event, Hurricane Sandy, also cut into the company’s bottom line, diluting earnings by $.05 a share according to the company.
After the pension charge, the company posted an official fourth-quarter net loss of $1.75 billion.
It’s contract time. And UPS Teamsters can expect management to use the Fourth Quarter figures to talk up the bad economy.
Management and Teamsters know the truth: UPS continues to gain ground and make profits even in a tough economy. Just look at the numbers the company can’t manipulate through accounting gimmicks.
UPS Teamsters continue to deliver huge revenue for the company. It’s time for UPS to deliver for us by negotiating a fair contract.
Read news coverage:
Pension charge pushes UPS 4Q results into the red 
UPS books loss after big pension charge, sees 2013 profit up 
Click here  to read UPS’s official announcement.
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URLs in this post:
 Pension charge pushes UPS 4Q results into the red: https://tdu.org/media/pension-charge-pushes-ups-4q-results-red
 UPS books loss after big pension charge, sees 2013 profit up: https://tdu.org/media/ups-books-loss-after-big-pension-charge-sees-2013-profit
 Click here: http://www.ups.com/pressroom/us/press_releases/press_release/Press+Releases/Homepage+Press+Releases/ci.UPS+Achieves+Record+Earnings+Per+Share.syndication
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