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ups 2nd quarter earnings 2020

The U.S. economy contracted about 13% year over year in … To ship with UPS, visit ups.com/ship. The company 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. The world’s largest brickmaker now expects 2020 adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of 460-480 million euros (419.33-437.56 million pounds). Pension discount rate-neutral operating profit is calculated by discounting the value of benefits attributable to employee service in the current period utilizing the prior year discount rate applicable to each of our company-sponsored defined benefit plans. AbbVie Inc. (ABBV Quick Quote ABBV - Free Report) reported earnings of $2.83 per share for the third quarter of 2020, comfortably beating the Zacks Consensus Estimate of … Q1 2020 United Parcel Service, Inc. Earnings Conference Call. GAAP results included a pre-tax transformation charge of $112 million, equivalent to $0.10 per share. April 28, 2020 at 8:30 AM EDT Click here for Webcast. Given that the fiscal 2020 fourth-quarter results FedEx delivered on June 30 were warmly received by the market, it would seem appropriate to take a look at what UPS … Third quarter earnings results issued today for Atlanta-based global freight transportation and logistics services provider UPS came in ahead of expectations.. Quarterly revenue, at $21.2 billion, increased 15.9% annually, and adjusted earnings per share, at $2.28, was up 10.1% compared to a year ago, far outpacing Wall Street expectations, at $1.67. Impact of Changes in Foreign Currency Exchange Rates and Hedging Activities. ATLANTA, July 16, 2020 -- UPS (NYSE:UPS) will announce its 2020 second-quarter results on Thursday, July 30, 2020, at approximately 6:00 a.m. Eastern Time. The derived amounts are then multiplied by the average foreign exchange rates used to translate the comparable results for each month in the prior year period (including the period over period impact of foreign currency hedging activities). United Parcel Service (UPS - Free Report) is scheduled to report second-quarter 2020 earnings on Jul 30, before market open. We believe free cash flow, free cash flow excluding discretionary pension contributions and free cash flow adjusted for principal repayments of finance lease obligations are important indicators of how much cash is generated by regular business operations and we use them as a measure of incremental cash available to invest in our business, meet our debt obligations and return cash to shareowners. UPS (NYSE:UPS) today announced second-quarter 2020 consolidated revenue increased to $20.5 billion, a 13.4% increase from the second quarter of 2019. United Parcel Service UPS is scheduled to report second-quarter 2020 earnings on Jul 30, before market open. Shares of the world's largest package delivery company soared more than 9% last week after UPS reported better-than-expected second-quarter earnings, driven by high demand for Next Day Air. To get UPS news direct, follow @UPS_News on Twitter. We will be contacting you shortly to cofirm event details and try to work out a successful speaking engagement. Moving forward we are focusing on efficiency and revenue quality to improve U.S. operating margins longer term,” said Brian Newman, UPS chief financial officer. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. To request a UPS executive for an upcoming speaking engagement , please complete and submit the following form, We are unable to process your speaker request.We have not been able to received your request for a UPS speaker. US Foods' second quarter fiscal 2020 earnings call will be broadcast live via the internet on Tuesday, August 4, 2020 at 10:00 a.m. CDT. The bank’s earnings are expected to be much lower in 2020 … Thanks very much for your request. United Parcel Service Inc. (NYSE: UPS) reported second-quarter results before the market opened on July 30 that exceeded analysts' estimates by a wide margin. UPS was awarded America’s Best Customer Service company for Shipping and Delivery services by Newsweek magazine; Fortune magazine’s 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. Non-GAAP operating profit, operating margin, pre-tax income, net income and earnings per share exclude the impact of costs related to restructuring programs, including Transformation strategy costs. The … See the appendix to this release for a discussion of non-GAAP financial measures, including a reconciliation to the most closely correlated GAAP measure. downloads. The Zacks Consensus Estimate for … Scott Childress – Investor Relations. Vertiv Second Quarter 2020 Earnings Conference Call. Thank you for subscribing to receive email updates from UPS. Reconciliation of GAAP and non-GAAP Financial Measures, We supplement the reporting of our financial information determined under generally accepted accounting principles ("GAAP") with certain non-GAAP financial measures, including "adjusted" compensation and benefits, operating profit, operating margin, other income (expense), income before income taxes, income tax expense, effective tax rate, net income and earnings per share. UPS 2nd Quarter 2020 Press Release Financial Tables. Forward-looking statements are made subject to the safe harbor provisions of the federal securities laws pursuant to Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should consider the limitations on, and risks associated with, forward-looking statements and not unduly rely on the accuracy of information contained in such forward-looking statements. UPS on July 30 delivered for shareholders, reporting adjusted second-quarter earnings of $2.13 per share on revenue of $20.5 billion. The difference between this derived amount and the current period reported service cost is the period over period impact of pension discount rate movements on operating profit. Net income was $1.8 billion for the quarter; adjusted net income was $1.9 billion, 8.8% above the same period in 2019. To ship with UPS, visit ups.com/ship. Excluding items, the company earned $2.13 per share, beating … ATLANTA, Oct. 28, 2020 (GLOBE NEWSWIRE) -- UPS (NYSE:UPS) today announced third-quarter 2020 consolidated revenue of $21.2 billion, a 15.9% increase over the third quarter of 2019. Fedex, UPS, Amazon, Grubhub, Door Dash all reported blowout earnings for the 2nd quarter, the only delivery service losing money was the USPS. UPS releases second-quarter 2020 earnings. However, caution should be taken not to place undue reliance on any forward-looking statements because such statements speak only as of the date when made. * “Adjusted” amounts are non-GAAP financial measures. Non-GAAP pension discount rate-neutral operating profit excludes the period over period impact of discount rate changes on pension service cost. Impact of Changes in Pension Discount Rates. Operating margin was 9.0%; adjusted operating margin was 9.3%. Revenue increased 8.5%, driven by elevated air freight forwarding demand out of Asia, offset in part by weaker demand early in the quarter in the LTL and truckload brokerage units. The difference between the current period reported U.S. dollar revenue, revenue per piece and operating profit and the derived current period U.S. dollar revenue, revenue per piece and operating profit is the period over period impact of currency fluctuations. UPS (NYSE:UPS) today announced first-quarter 2020 diluted earnings per share of $1.11 and adjusted diluted earnings per share of $1.15. What could the problem be? UPS Releases 2Q 2020 Earnings. Find the latest Earnings Report Date for United Parcel Service, Inc. Common Stock (UPS) at Nasdaq.com. Reconciliation of GAAP and Non-GAAP Revenue, Revenue Per Piece, and Adjusted Operating Profit(in millions, except per piece amounts): (1) Amounts adjusted for period over period foreign currency exchange rate and hedging differences, (1) Amounts adjusted for transformation strategy costs, (2) Amounts adjusted for transformation strategy costs and period over period foreign currency exchange rate and hedging differences, (1)Amounts adjusted for period over period foreign currency exchange rate and hedging differences, (2 )Amounts adjusted for transformation strategy costs and period over period foreign currency exchange rate and hedging differences. Operating margin was 7.0%; adjusted operating margin was 7.3%. Currency-neutral revenue, revenue per piece and operating profit are calculated by dividing current period reported U.S. dollar revenue, revenue per piece and operating profit by the current period average exchange rates to derive current period local currency revenue, revenue per piece and operating profit. Net income was $1.8 billion for the quarter; adjusted net income was $1.9 billion, 8.8% above the same period in 2019. Thank you for subscribing to receive email updates from UPS. We calculate free cash flow as cash flows from operating activities less capital expenditures, proceeds from disposals of property, plant and equipment, and plus or minus the net changes in finance receivables and other investing activities. You should consider the limitations on, and risks associated with, forward-looking statements and not unduly rely on the accuracy of information contained in such forward-looking statements. Diluted earnings per share was $2.03 and adjusted diluted earnings per share was $2.13, up 8.7% from the same period last year. Average daily volume increased 22.8%, reaching 21.1 million packages per day. ET, UPS Chief Executive Officer Carol Tomé and Chief Financial Officer Brian Newman will lead an investor conference call. Non-GAAP pension discount rate-neutral operating profit excludes the period over period impact of discount rate changes on pension service cost. “Our liquidity and cash position remain strong, allowing us to invest in enabling capabilities through this time of unprecedented business disruption.”. For more information about this press release, contact: If you are unable to download this video, image or audio file, Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience, present expectations or anticipated results. Diluted earnings per share was $2.03 and adjusted diluted earnings per share was $2.13, up 8.7% from the same period last year. Atlanta-based UPS said net income rose 4.7% to $1.77 billion in the quarter ended June 30. FedEx earned $4.87 a … First United Corporation Announces Second Quarter 2020 Earnings First United Corporation (NASDAQ: FUNC), a bank holding company and the parent company of First United Bank & … “Our results were better than we expected, driven in part by the changes in demand that emerged from the pandemic, including a surge in residential volume, COVID-19 related healthcare shipments and strong outbound demand from Asia,” said Carol Tomé, UPS chief executive officer. These non-GAAP measures are used internally by management for business unit operating performance analysis, business unit resource allocation and in connection with incentive compensation award determinations. Costs Related to Restructuring Programs; Transformation Strategy Costs. To get UPS news direct, follow @UPS_News on Twitter. The derived amounts are then multiplied by the average foreign exchange rates used to translate the comparable results for each month in the prior year period (including the period over period impact of foreign currency hedging activities). We calculate free cash flow as cash flows from operating activities less capital expenditures, proceeds from disposals of property, plant and equipment, and plus or minus the net changes in finance receivables and other investing activities. We believe that these non-GAAP measures provide additional meaningful information to assist users of our financial statements in understanding our financial results and cash flows and assessing our ongoing performance, because they exclude items that may not be indicative of, or are unrelated to, our underlying operations and may provide a useful baseline for analyzing trends in our underlying businesses. 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. GAAP results included a pre-tax transformation charge of $112 million, equivalent to $0.10 per share. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience, present expectations or anticipated results. We believe free cash flow, free cash flow excluding discretionary pension contributions and free cash flow adjusted for principal repayments of finance lease obligations are important indicators of how much cash is generated by regular business operations and we use them as a measure of incremental cash available to invest in our business, meet our debt obligations and return cash to shareowners. The company will host a conference call at 11 a.m. Eastern time that day to discuss second quarter 2020 earnings results with securities analysts and institutional investors. Non-GAAP financial measures should be considered in addition to, and not as an alternative for, our reported results prepared in accordance with GAAP. We also supplement the reporting of revenue, revenue per piece and operating profit with non-GAAP measures that exclude the period-over-period impact of foreign currency exchange rate changes and hedging activities. Jul 30, 2020 9:35 AM EDT Original: ... - Get Report jumped on Thursday after the company delivered strong second-quarter earnings, ... UPS said. We will get an answer when JPMorgan reports second quarter fiscal 2020 earnings results Tuesday before the opening bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings has been stable at $1.06 per share over the past 60 days. Looking ahead, FDX’s Q2 fiscal 2020 revenue is projected to slip 1.4% from the year-ago period to $17.57 billion, based on our current Zacks Consensus Estimate. Unfortunately due to technical difficulty we have not been added to the UPS press release email distribution list. Learn more about our sustainability efforts at ups.com/sustainability. Despite the … The Zacks Consensus Estimate for second-quarter fiscal 2021 earnings has been revised 2.1% upward to $3.90 in the past 60 days. We believe this provides a useful comparison of year-to-year financial performance without considering the short-term impact of restructuring costs. The company’s results were adversely affected by the disruption to customers from the global coronavirus pandemic. Demand for residential delivery surged in the quarter, driving B2C shipment growth up 65.2%. The business had revenue of $21.24 billion for the quarter, compared to the consensus estimate of $20.08 billion. Find the latest Earnings Report Date for United Parcel Service, Inc. Common Stock (UPS) at Nasdaq.com. UPS (NYSE: UPS) today announced second-quarter 2020 consolidated revenue increased to $20.5 billion, a 13.4% increase from the second quarter of … United Parcel Service (NYSE: UPS) earnings for the second quarter of fiscal year 2020 have UPS stock skyrocketing on Thursday morning. Shares are up 5.7% since reporting last quarter. UPS grew revenue by 15.9%, operating profit by 9.9%, and earnings per share by 10.1% from the year-ago quarter, representing even better growth than it achieved in the second quarter. “UPSers are keeping the world moving during this time of need and I want to thank our team for their hard work and outstanding efforts to serve our customers, our communities and each other.”. FedEx Corporation FDX reported robust second-quarter fiscal 2021 results as it thrives on the pandemic-driven rise in e-commerce demand. Reconciliation of GAAP and Non-GAAP Income Statement(in millions, except per share amounts): (1) Reflects other employee benefits costs of $81 million and other costs of $31 million. But what the earnings declines do mean is that second quarter of 2020 is going to see economic pain on par with the Great Depression. Operating margin was 20.8%; adjusted operating margin was 22.7%. * “Adjusted” amounts are non-GAAP financial measures. Net income was $1.8 billion for the quarter; adjusted net income was $1.9 billion, 8.8% above the same period in 2019. Learn more about our sustainability efforts at ups.com/sustainability. The equivalent measures determined in accordance with GAAP are also referred to as "reported" or "unadjusted.”. Non-GAAP financial measures should be considered in addition to, and not as an alternative for, our reported results prepared in accordance with GAAP. downloads. The company 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. Average daily volume grew 9.8%, driven by strong outbound demand from Asia and an increase in cross-border e-commerce in Europe. 31/07/2020 admin Uncategorized 0. Currency-neutral revenue, revenue per piece and operating profit are calculated by dividing current period reported U.S. dollar revenue, revenue per piece and operating profit by the current period average exchange rates to derive current period local currency revenue, revenue per piece and operating profit. ET, July 30, 2020. Net income was $1.8 billion for the quarter; adjusted net income was $1.9 billion, 8.8% above the same period in 2019. Net income was $1.8 billion for the quarter; adjusted net income was $1.9 billion, 8.8% above the same period in 2019. These risks and uncertainties, many of which are outside of our control, include, but are not limited to: uncertainties related to the impact of the COVID-19 pandemic on our business and operations, financial condition, financial results and financial position, our customers and suppliers, and on the global economy; changes in general economic conditions, in the U.S. or internationally; significant competition on a local, regional, national and international basis; changes in our relationships with our significant customers; changes in the complex and stringent regulation in the U.S. and internationally (including tax laws and regulations); increased physical or data security requirements that may increase our costs of operations and reduce operating efficiencies; legal, regulatory or market responses to global climate change; results of negotiations and ratifications of labor contracts; strikes, work stoppages or 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; uncertainty from the expected discontinuance of LIBOR and transition to any other interest rate benchmark; our ability to maintain the image of our brand; breaches in data security; disruptions to the Internet or our technology infrastructure; interruptions in or impacts on our business from natural or man-made events or disasters including terrorist attacks, epidemics or pandemics; 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; potential additional tax liabilities in the U.S. or internationally; 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 realize the anticipated benefits from our transformation initiatives; cyclical and seasonal fluctuations in our operating results; 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, 2019, our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 and subsequently filed reports. 22.8 %, driven by strong outbound demand from Asia and an increase in e-commerce... 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