Vydáno: 28.4.2020

Finanční výsledky UPS za 1Q 2020

    UPS Expertise and Flexible Global Network Keep Supply Chains Moving

    • Focused on the Health and Safety of Employees and the Public
    • Supported Customers with Near Record On-Time Service
    • COVID-19 Weighed on First-Quarter Results
    • Cash from Operations of $2.6B; Adjusted* Free Cash Flow of $1.6B
    • UPS Liquidity and Financial Condition Remain Strong

    ATLANTA, April 28, 2020 – UPS (NYSE:UPS) today announced first-quarter 2020 diluted earnings per share of $1.11 and adjusted diluted earnings per share of $1.15. The company’s results were adversely affected by the disruption to customers from the global coronavirus pandemic.

    UPS has been designated by governments around the world as a Critical Infrastructure Business and continues to operate in all major countries, while adhering to additional regulatory requirements. In the U.S., the company is also front and center in leading the pandemic logistics response for the Federal Emergency Management Agency (FEMA) and other federal and state government agencies. As a logistics leader, UPS is supporting FEMA and its Project Airbridge by managing charter flights around the globe. UPS has delivered several million pounds of Personal Protective Equipment for FEMA into dedicated UPS distribution space. In addition, as part of FEMA’s Project Airbridge and other healthcare-related missions, in April the company increased the number of flights by over 200 to transport critical life-saving cargo to the U.S. and Europe.

    “I want to thank all 495,000 UPSers for their extraordinary efforts to leverage the full power of our global network in the fight against the coronavirus pandemic, keeping critical goods moving for businesses and consumers globally,” said David Abney, UPS chairman and CEO. “The world is counting on UPS more than ever before as we support the people on the front lines of this crisis and our customers with speed, ingenuity and reliability.”

    In the first quarter of 2020, the company incurred a pre-tax transformation charge of $45 million, or $0.04 per share after tax. First-quarter 2019 adjusted results excluded a pre-tax charge of $123 million, or $0.11 per share after tax, from transformation-related charges.

    Consolidated Results
    1Q 2020
    1Q 2020
    1Q 2019
    1Q 2019
    $18,035 M
    $17,160 M
    Net Income
    $965 M
    $1,000 M
    $1,111 M
    $1,204 M
    Diluted Earnings Per Share

    * “Adjusted” amounts presented in this release are non-GAAP financial measures. See the appendix to this release for a discussion of non-GAAP financial measures, including a reconciliation to the most closely correlated GAAP measure.

    For the total company in 1Q 2020:

    • Consolidated revenue increased to $18 billion, driven by growth in business-to-consumer shipments and gains in healthcare.
    • Net income was $965 million; adjusted net income was $1 billion.
    • Net income included material headwinds due to disruptions from the coronavirus pandemic, higher self-insurance accruals and other items.
    • Adjusted capital expenditures were $939 million to support network enhancements.
    • Dividends per share increased 5.2%, with dividends remaining a high priority for the company.

    U.S. Domestic Segment

    The progression of stay-at-home restrictions instituted across the country as a result of coronavirus closed businesses and disrupted supply chains, resulting in an unprecedented shift in customer and product mix in the quarter. The company’s automated hubs and other transformation investments generated efficiency gains; however, these benefits did not offset the significant headwinds from the impact the coronavirus pandemic had on UPS customers, coupled with higher self-insurance accruals. UPS continues to adapt its network to the current economic environment while supporting customers and critical government programs.

    1Q 2020
    1Q 2020
    1Q 2019
    1Q 2019
    $11,456 M
    $10,480 M
    Operating profit
    $364 M
    $ 401 M
    $666 M
    $694 M

    • Revenue increased 9.3% and average daily volume was up 8.5%, with growth across all products.
    • Next Day Air average daily volume grew 20.5%, the fourth consecutive quarter of double-digit increases.
    • Revenue per piece decreased less than 1% due to changes in customer and product mix.
    • Commercial deliveries declined while residential deliveries were elevated.
    • Shipment growth in the quarter was driven by large customers.
    • On-time performance across all service levels was near a record high in a dynamic environment.

    International Segment

    UPS’s International segment generated $551 million in operating profit, or $558 million in operating profit on an adjusted basis, despite weakening global economic activity. The company executed well to contain costs and target customer opportunities as the coronavirus pandemic rapidly spread from Asia to other parts of the world.

    1Q 2020
    1Q 2020
    1Q 2019
    1Q 2019
    $3,383 M
    $3,459 M
    Operating profit
    $551 M
    $ 558 M
    $528 M
    $612 M

    • International average daily volume was down 1.8% with declines in commercial deliveries.
    • China volume primarily rebounded in March as its economic recovery accelerated, offsetting declines in January and February. Healthcare, high-tech and e-commerce sectors were positive contributors.
    • International cost per piece was down 0.5%, primarily due to the impact of currency. Additionally, the significant change in mix was partially offset by network adjustments to align capacity to changing trade patterns.
    • Operating margin was 16.3%; adjusted operating margin remained strong at 16.5%.

    Supply Chain and Freight Segment

    Supply Chain and Freight generated operating profit of $157 million, or $158 million in operating profit on an adjusted basis, despite significant economic headwinds from the coronavirus pandemic. Revenue was negatively impacted by widespread reductions in global economic activity. The segment is taking numerous actions to assist customers and improve financial performance as demand recovers, including activating aircraft charters from Asia, expanding customer relationships in the healthcare sector and applying peak surcharges where appropriate.

    1Q 2020
    1Q 2020
    1Q 2019
    1Q 2019
    $3,196 M
    $3,221 M
    Operating profit
    $157 M
    $ 158 M
    $200 M
    $211 M

    • Revenue was down less than 1% due to disciplined focus on growth opportunities and the segment’s broad portfolio of solutions.
    • Toward the end of the quarter, UPS Freight and Coyote experienced depressed volume levels primarily from mandated stay-at-home restrictions and businesses closures.
    • Logistics grew both revenue and operating profit, led by double-digit growth from Marken.
    • Within the Forwarding unit, International Air Freight tonnage rebounded in March generating revenue and profit growth in the quarter.


    At this time, UPS is unable to predict the extent of the business impact or the duration of the coronavirus pandemic, or reasonably estimate its operating performance in future quarters. As a result, the company is withdrawing its previously issued 2020 revenue and diluted earnings per share growth guidance. UPS has taken steps to ensure it remains strong and resilient throughout this period, including:

    • The company expects 2020 capital expenditures will be reduced by approximately $1 billion from previous estimates.
    • UPS is suspending share buybacks for 2020, reducing its planned full-year repurchase target by approximately $783 million.

    “We will continue to adapt through this challenging period and prioritize investments and operational decisions that put UPS in the best financial position.” said Brian Newman, UPS’s chief financial officer. “We take a disciplined and balanced approach to capital allocation and are confident in our liquidity position including our commitments to capital management and dividends.”

    # # #

    Conference Call Information

    UPS CEO David Abney and CFO Brian Newman will discuss first-quarter results with investors and analysts during a conference call at 8:30 a.m. ET (14:30 CET), April 28, 2020. That call will be open to others through a live Webcast. To access the call, go to www.investors.ups.com and click on “Earnings Webcast.” Additional financial information is included in the detailed financial schedules being posted on www.investors.ups.com under “Financials” and as filed with the SEC as an exhibit to our Current Report on Form 8-K.

    About UPS
    UPS (NYSE: UPS) is a global leader in logistics, offering a broad range of solutions including transporting packages and freight; facilitating international trade, and deploying advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. UPS was awarded America’s Best Customer Service company for Shipping and Delivery services by Newsweek magazine; Forbes Most Valuable Brand in Transportation; and top rankings on the JUST 100 list for social responsibility, the Dow Jones Sustainability World Index, and the Harris Poll Reputation Quotient, among other prestigious rankings and awards. The company can be found on the web at ups.com or pressroom.ups.com and its corporate blog can be found at ups.com/longitudes The company’s sustainability eNewsletter, UPS Horizons, can be found at ups.com/sustainabilitynewsletter. To get UPS news direct, follow @UPS_News on Twitter. To ship with UPS, visit ups.com/ship.