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United Parcel Service Inc (UPS) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

United Parcel Service Inc

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CIK: 1090727 Ticker: UPS

Exhibit 99.1
For Immediate Release




UPS RELEASES 2Q 2020 EARNINGS

•Consolidated Average Daily Volume Surged to Record 20.9% Growth
•2Q20 Diluted EPS of $2.03, Up 4.6%; Adjusted* Diluted EPS up 8.7% to $2.13
•YTD Cash from Operations of $5.9B; Adjusted Free Cash Flow of $3.9B

ATLANTA – July 30, 2020
 – 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. Net income was $1.8 billion for the quarter; adjusted net income was $1.9 billion, 8.8% above the same period in 2019. Operating profit was $2.2 billion, and adjusted operating profit was $2.3 billion, up 7.4% compared to last year’s second quarter.

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. GAAP results included a pre-tax transformation charge of $112 million, equivalent to $0.10 per share. In the prior year period, GAAP results included a pre-tax charge for transformation costs of $21 million, equivalent to $0.02 per share.

“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. “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.”

U.S. Domestic Segment


2Q 2020
Adjusted
2Q 2020

2Q 2019
Adjusted
2Q 2019
Revenue
$13,074 M
$11,150 M
Operating profit
$1,182 M
$ 1,215 M
$1,208 M
$1,226 M


•Average daily volume increased 22.8%, reaching 21.1 million packages per day.
•Demand for residential delivery surged in the quarter, driving B2C shipment growth up 65.2%.
•Operating margin was 9.0%; adjusted operating margin was 9.3%.

International Segment


2Q 2020
Adjusted
2Q 2020

2Q 2019
Adjusted
2Q 2019
Revenue
$3,705 M
$3,505 M
Operating profit
$771 M
$ 842 M
$663 M
$665 M


•Average daily volume grew 9.8%, driven by strong outbound demand from Asia and an increase in cross-border e-commerce in Europe.
•Operating margin was 20.8%; adjusted operating margin was 22.7%.

* “Adjusted” amounts 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 Thursday, July 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-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)
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)
Employee Benefit Plans - Net Periodic Benefit Cost For Pension And Postretirement Benefit Plans (Detail)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Narratives) (Details)
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Allocation Of Goodwill By Reportable Segment (Detail)
Goodwill And Intangible Assets - Summary Of Intangible Assets (Detail)
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)
Notional Amounts Of Outstanding Derivative Positions (Detail)
Property, Plant And Equipment
Property, Plant And Equipment (Detail)
Property, Plant And Equipment (Tables)
Property, Plant And Equipment - Additional Information (Details)
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)
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: 0001090727-20-000037
Submitted to the SEC: Tue Aug 04 2020 7:33:03 AM EST
Accepted by the SEC: Tue Aug 04 2020
Period: Tuesday, June 30, 2020
Industry: Trucking And Courier Services No Air

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