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United Parcel Service Inc (UPS) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

United Parcel Service Inc

HISTORY TOOLS
CIK: 1090727 Ticker: UPS


Exhibit 99.1
For Immediate Release

Contacts:
Steve Gaut, Public Relations
 
404-828-8787
 
 
 
Scott Childress, Investor Relations
 
404-828-7957




UPS RELEASES 4Q 2019 EARNINGS

Execution, Strategies and Investments Drive Continued Gains
and Uniquely Position UPS for Future Success

•
4Q19 Operating Profit Growth and Margin Expansion in All Segments
•
4Q19 Positive Operating Leverage Driven by Lower Unit Cost in the U.S.
•
4Q19 Diluted EPS of ($0.12); Adjusted* Diluted 4Q19 EPS Up 8.8% to $2.11
•
4Q19 U.S. Daily Volume Grew Nearly 9%; Next Day Air Volume Up Nearly 26%
•
2019 Cash from Operations of $8.6B; Adjusted Free Cash Flow Topped $4.1B
•
Announces Full-Year 2020 Adjusted EPS Guidance Range of $7.76 to $8.06
•
Speeding up time-in-transit and broadening weekend services in 2020 to capture profitable growth from Small- and Medium-sized Businesses (SMB)

ATLANTA - January 30, 2020
 - UPS (NYSE:UPS) today announced fourth-quarter 2019 adjusted earnings per share of $2.11, an 8.8% increase over the same period last year. The company’s results highlight the strong volume growth in the U.S. Domestic segment and the impact of successful execution from all segments.

“Our network improvements from transformation enabled UPS to embrace a surge in demand for air products while at the same time generate productivity improvements and positive operating leverage,” said David Abney, UPS chairman and CEO. “Looking to 2020, we will continue to adapt to the changing environment, strengthen our network and create new solutions to support our strategic growth initiatives and help our customers grow and compete.”

In the fourth quarter of 2019, the company incurred a non-cash, after-tax mark-to-market (MTM) pension charge of $1.8 billion, an after-tax transformation charge of $39 million, and U.S. Domestic after-tax legal contingency and expense charges of $91 million, predominantly related to the New York cigarette case. The total impact to EPS was $2.23 per diluted share.  MTM pension charges of $1.42 per diluted share were included in the company’s fourth-quarter GAAP results in the prior-year period.


Consolidated Results
4Q 2019
Adjusted
4Q 2019
4Q 2018
Adjusted
4Q 2018
Revenue
$20,568 M
 
$19,848 M
 
Net Income/Loss
($106 M)
$1,840 M
$453 M
$1,690 M
Diluted Earnings/Loss Per Share
($0.12)
$2.11
$0.52
$1.94

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


The following information was filed by United Parcel Service Inc (UPS) on Thursday, January 30, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Assess how United Parcel Service Inc's management team is paid from their Annual Proxy

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United Parcel Service Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

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  • Executive Team
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Inside United Parcel Service Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Statements Of Consolidated Cash Flows
Statements Of Consolidated Comprehensive Income
Statements Of Consolidated Income
- Amortized Cost And Estimated Fair Value Of Marketable Securities By Contractual Maturity (Detail)
Company-Sponsored Employee Benefit Plans
Company-Sponsored Employee Benefit Plans (Tables)
Company-Sponsored Employee Benefit Plans - Additional Information (Detail)
Company-Sponsored Employee Benefit Plans - Expected Cash Flows For Pension And Postretirement Benefit Plans (Detail)
Company-Sponsored Employee Benefit Plans - Fair Value Measurement Of Plan Assets Using Unobservable Inputs (Detail)
Company-Sponsored Employee Benefit Plans - Fair Values Of U.S. Pension And Postretirement Benefit Plan Assets By Asset Category As Well As The Percentage That Each Category Comprises Of Total Plan Assets And The Respective Target Allocations (Detail)
Company-Sponsored Employee Benefit Plans - Funded Status As Of The Respective Measurement Dates In Each Year And The Amounts Recognized In Balance Sheet (Detail)
Company-Sponsored Employee Benefit Plans - Net Periodic Benefit Cost For Company Sponsored Pension And Postretirement Benefit Plans (Detail)
Company-Sponsored Employee Benefit Plans - Projected Benefit Obligation, Accumulated Benefit Obligation, And Fair Value Of Plan Assets For Pension Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets (Detail)
Company-Sponsored Employee Benefit Plans - Reconciliation Of The Changes In The Plans' Benefit Obligations And Fair Value Of Plan Assets (Detail)
Company-Sponsored Employee Benefit Plans - Weighted Average Actuarial Assumptions Used To Determine The Benefit Obligations (Detail)
Company-Sponsored Employee Benefit Plans - Weighted Average Actuarial Assumptions Used To Determine The Net Periodic Benefit Cost (Detail)
Company-Sponsored Employee Benefit Plans Company-Sponsored Employee Benefit Plans - Effects Of One Basis Point Change On Projected Benefit Obligation (Details)
Debt And Financing Arrangements
Debt And Financing Arrangements (Tables)
Debt And Financing Arrangements - Additional Information (Detail)
Debt And Financing Arrangements - Aggregate Minimum Lease Payments , Annual Principal Payments And Amounts Expected To Be Spent For Purchase Commitments (Detail)
Debt And Financing Arrangements - Carrying Value Of Debt Obligations (Detail)
Debt And Financing Arrangements Debt And Financing Arrangements - Average Interest Rate (Details)
Derivative Instruments And Risk Management
Derivative Instruments And Risk Management (Tables)
Derivative Instruments And Risk Management - Additional Information (Detail)
Derivative Instruments And Risk Management - Amount And Location In The Income Statement For Derivatives Designated As Fair Value Hedges (Detail)
Derivative Instruments And Risk Management - Amount And Location In The Income Statement For Derivatives Designed As Cash Flow Hedges (Detail)
Derivative Instruments And Risk Management - Amount Recorded In Income Statements For Foreign Currency Forward Contracts Not Designated As Hedges (Detail)
Derivative Instruments And Risk Management - Balance Sheet Location Of Derivative Assets And Liabilities And Their Related Fair Values (Detail)
Derivative Instruments And Risk Management - Notional Amounts Of Outstanding Derivative Positions (Detail)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Additional Information (Detail)
Earnings Per Share - Computation Of Basic And Diluted Earnings Per Share (Detail)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Additional Information (Detail)
Goodwill And Intangible Assets - Allocation Of Goodwill By Reportable Segment (Detail)
Goodwill And Intangible Assets - Summary Of Intangible Assets (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Deferred Tax Liabilities And Assets (Detail)
Income Taxes - Income Before Income Taxes (Detail)
Income Taxes - Income Tax Expense Benefit (Detail)
Income Taxes - Reconciliation Of Statutory Federal Income Tax Rate To Effective Income Tax Rate (Detail)
Income Taxes - Summarized Activity Related To Unrecognized Tax Benefits (Detail)
Income Taxes - U.S. State And Local Operating Loss And Credit Carryforwards (Detail)
Investments And Restricted Cash
Investments And Restricted Cash (Tables)
Investments And Restricted Cash - Additional Information (Detail)
Investments And Restricted Cash - Age Of Gross Unrealized Losses And Fair Value By Investment Category (Detail)
Investments And Restricted Cash - Cash Details (Details)
Investments And Restricted Cash - Summary Of Marketable Securities (Detail)
Leases
Leases (Tables)
Leases - Lease Cost (Details)
Leases - Maturity Schedule After Adoption (Details)
Leases - Maturity Schedule Prior To Adoption (Details)
Leases - Narratives (Details)
Leases - Supplemental Balance Sheet (Details)
Leases - Supplemental Cash Flow Disclosures (Details)
Legal Proceedings And Contingencies
Legal Proceedings And Contingencies Legal Proceedings And Contingencies (Details)
Multiemployer Employee Benefit Plans
Multiemployer Employee Benefit Plans (Tables)
Multiemployer Employee Benefit Plans - Multi-Employer Health And Welfare Plans (Detail)
Multiemployer Employee Benefit Plans - Ups's Participation In Multiemployer Plans (Detail)
Property, Plant And Equipment
Property, Plant And Equipment (Detail)
Property, Plant And Equipment (Tables)
Property, Plant And Equipment - Narratives (Details)
Quarterly Information (Unaudited)
Quarterly Information (Unaudited) (Tables)
Quarterly Information (Unaudited) - Quarterly Information (Detail)
Quarterly Information (Unaudited) - Transformation And Other Costs (Details)
Revenue Recognition
Revenue Recognition (Details)
Revenue Recognition - Narratives (Details)
Segment And Geographic Information
Segment And Geographic Information (Tables)
Segment And Geographic Information - Additional Information (Detail)
Segment And Geographic Information - Geographic Information (Detail)
Segment And Geographic Information - Revenue By Product Type (Detail)
Segment And Geographic Information - Segment Information (Detail)
Shareowners' Equity
Shareowners' Equity (Tables)
Shareowners' Equity - Activity In Accumulated Other Comprehensive Income (Loss) (Detail)
Shareowners' Equity - Activity In Accumulated Other Comprehensive Income (Loss) (Phantom) (Detail)
Shareowners' Equity - Activity In Deferred Compensation Program (Detail)
Shareowners' Equity - Additional Information (Detail)
Shareowners' Equity - Roll-Forward Of Common Stock, Additional Paid-In Capital, And Retained Earnings Accounts (Detail)
Shareowners' Equity - Roll-Forward Of Common Stock, Additional Paid-In Capital, And Retained Earnings Accounts (Phantom) (Detail)
Shareowners' Equity Shareowners' Equity - Reclassification From Aoci (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Detail)
Stock-Based Compensation - Fair Value Of Employee Stock Options Granted As Determined By Black-Scholes Valuation Model Assumptions (Detail)
Stock-Based Compensation - Options To Purchase Shares Of Class A Common Stock Issued And Outstanding (Detail)
Stock-Based Compensation - Restricted Stock Units Outstanding, Including Reinvested Dividends (Detail)
Stock-Based Compensation - Summarized Information About Stock Options Outstanding And Exercisable (Detail)
Summary Of Accounting Policies
Summary Of Accounting Policies (Policies)
Summary Of Accounting Policies (Tables)
Summary Of Accounting Policies - Additional Information (Detail)
Summary Of Accounting Policies - Balance Sheet Impact (Details)
Summary Of Accounting Policies - Cash Flows Impact (Details)
Summary Of Accounting Policies - Income Statement Impact (Details)
Transformation Strategy
Transformation Strategy Costs (Tables)
Transformation Strategy Transformation Strategy Costs (Details)
Ticker: UPS
CIK: 1090727
Form Type: 10-K Annual Report
Accession Number: 0001090727-20-000005
Submitted to the SEC: Thu Feb 20 2020 5:05:25 PM EST
Accepted by the SEC: Thu Feb 20 2020
Period: Tuesday, December 31, 2019
Industry: Trucking And Courier Services No Air

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