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United Parcel Service Inc (UPS) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

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United Parcel Service Inc

HISTORY TOOLS
CIK: 1090727 Ticker: UPS

Exhibit 99.1
For Immediate Release

Contacts:Glenn Zaccara, Public Relations
404-828-4663
Scott Childress, Investor Relations
404-828-7957



UPS RELEASES 1Q 2020 EARNINGS
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
Adjusted
1Q 2020

1Q 2019
Adjusted
1Q 2019
Revenue
$18,035 M
$17,160 M
Net Income
$965 M
$1,000 M
$1,111 M
$1,204 M
Diluted Earnings Per Share
$1.11
$1.15
$1.28
$1.39

* “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.

The following information was filed by United Parcel Service Inc (UPS) on Tuesday, April 28, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside United Parcel Service Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Statements Of Consolidated Cash Flows
Statements Of Consolidated Comprehensive Income
Statements Of Consolidated Income
Activity In Accumulated Other Comprehensive Income (Loss) (Detail)
Activity In Accumulated Other Comprehensive Income (Loss) (Phantoms) (Detail)
Activity In Deferred Compensation Program (Detail)
Allocation Of Goodwill By Reportable Segment (Detail)
Amount And Location In The Income Statement For Derivatives Designed As Cash Flow Hedges (Detail)
Amount Recorded In Income Statements For Foreign Currency Forward Contracts Not Designated As Hedges (Detail)
Basis Of Presentation
Basis Of Presentation (Policies)
Carrying Value Of Outstanding Debt (Detail)
Cash And Cash Equivalents (Policies)
Cash And Investments
Cash And Investments (Tables)
Cash And Investments - Additional Information (Detail)
Cash And Investments - Amortized Cost And Estimated Fair Value Of Marketable Securities By Contractual Maturity (Detail)
Cash And Investments - Cash Details (Details)
Cash And Investments - Investments Measured At Fair Value On A Recurring Basis (Detail)
Cash And Investments - Summary Of Marketable Securities (Detail)
Computation Of Basic And Diluted Earnings Per Share (Detail)
Debt And Financing Arrangements
Debt And Financing Arrangements (Tables)
Debt And Financing Arrangements - Additional Information (Detail)
Derivative Instruments And Risk Management
Derivative Instruments And Risk Management (Tables)
Derivative Instruments And Risk Management - Additional Information (Detail)
Derivative Instruments And Risk Management - Fair Value Derivative Balance Sheet Location (Details)
Derivative Instruments And Risk Management - Income Statement And Aoci Recognition (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Additional Information (Detail)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Additional Information (Detail)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Narratives) (Details)
Goodwill And Intangible Assets (Tables)
Income Taxes
Income Taxes - Additional Information (Detail)
Leases
Leases (Tables)
Leases - Lease Cost (Details)
Leases - Maturity Schedule After Adoption (Details)
Leases - Narratives (Details)
Leases - Supplemental Balance Sheet (Details)
Leases - Supplemental Cash Flow Disclosures (Details)
Legal Proceedings And Contingencies
Legal Proceedings And Contingencies (Narratives) (Details)
Location On The Balance Sheet Of Derivative Assets And Liabilities (Detail)
Net Periodic Benefit Cost For Pension And Postretirement Benefit Plans (Detail)
Notional Amounts Of Outstanding Derivative Positions (Detail)
Property Plant And Equipment (Detail)
Property Plant And Equipment - Additional Information (Details)
Property, Plant And Equipment
Property, Plant And Equipment (Tables)
Recent Accounting Pronouncements
Recent Accounting Pronouncements - Narratives (Details)
Revenue Recognition
Revenue Recognition (Details)
Revenue Recognition (Tables)
Revenue Recognition - Narratives (Details)
Roll-Forward Of Common Stock, Additional Paid-In Capital, Retained Earnings Accounts And Noncontrolling Interest (Detail)
Segment Information
Segment Information (Detail)
Segment Information (Tables)
Segment Information - Additional Information (Detail)
Shareowners' Equity
Shareowners' Equity (Tables)
Shareowners' Equity - Additional Information (Detail)
Shareowners' Equity Amounts Reclassified From Aoci (Detail)
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)
Summary Of Intangible Assets (Detail)
Transformation Strategy (Details)
Transformation Strategy (Notes)
Transformation Strategy X (Tables)

Material Contracts, Statements, Certifications & more

United Parcel Service Inc provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Exhibit 32.2: Section 1350 Certification
Ticker: UPS
CIK: 1090727
Form Type: 10-Q Quarterly Report
Accession Number: 0001090727-20-000023
Submitted to the SEC: Fri May 08 2020 4:30:00 PM EST
Accepted by the SEC: Fri May 08 2020
Period: Tuesday, March 31, 2020
Industry: Trucking And Courier Services No Air

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