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

United Parcel Service Inc

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CIK: 1090727 Ticker: UPS

Exhibit 99.1
For Immediate Release




UPS RELEASES 3Q 2020 EARNINGS

•Consolidated Revenue Increased 15.9%; Growth Across All Segments
•Diluted EPS of $2.24, Up 11.4%; Adjusted* Diluted EPS Up 10.1% to $2.28
•YTD Cash from Operations of $9.3B; Adjusted Free Cash Flow of $5.9B

ATLANTA – October 28, 2020
 – UPS (NYSE:UPS) today announced third-quarter 2020 consolidated revenue of $21.2 billion, a 15.9% increase over the third quarter of 2019. Consolidated average daily volume increased 13.5% year over year. Net income was $2.0 billion for the quarter, 11.8% above the same period in 2019, or 10.7% on an adjusted basis. Operating profit was $2.4 billion, up 11.0% compared to last year’s third quarter, or 9.9% on an adjusted basis.

Diluted earnings per share was $2.24 and adjusted diluted earnings per share was $2.28, up 10.1% from the same period last year. GAAP results include a pre-tax transformation charge of $44 million, equivalent to $0.04 per share. In the prior year period, GAAP results included a pre-tax charge for transformation costs of $63 million, equivalent to $0.06 per diluted share.

“Our performance highlights the agility of our global integrated network amid the ongoing challenges of the pandemic. Our results were fueled by continued strong outbound demand from Asia and growth from small and medium-sized businesses,” said Carol Tomé, UPS chief executive officer. “UPSers are everyday heroes who are keeping the world’s supply chains moving. I want to thank our team for their ongoing commitment to our customers and the communities we serve.”

U.S. Domestic Segment


3Q 2020
Adjusted
3Q 2020

3Q 2019
Adjusted
3Q 2019
Revenue$13,225 M$11,455 M
Operating profit$1,098 M$1,133 M$1,216 M$1,242 M

•Average daily volume increased 13.8%, with growth across all products and continued elevated residential demand.
•Operating margin was 8.3%; adjusted operating margin was 8.6%.

International Segment


3Q 2020
Adjusted
3Q 2020

3Q 2019
Adjusted
3Q 2019
Revenue$4,087 M$3,494 M
Operating profit$966 M$972 M$667 M$693 M

•Average daily volume grew 12.1%, with double-digit export volume growth globally and continued strong outbound demand from Asia.
•Operating margin was 23.6%; adjusted operating margin was 23.8%.

* “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 Wednesday, October 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)
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)
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 (Tables)
Debt And Financing Arrangements - Additional Information (Detail)
Debt And Financing Arrangements - Carrying Value Of Outstanding Debt (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 (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Disaggregation Of Revenue (Details)
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 - Activity In Deferred Compensation Program (Detail)
Shareowners' Equity - Additional Information (Detail)
Shareowners' Equity - Gains (Losses) 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: 0001090727-20-000047
Submitted to the SEC: Mon Nov 02 2020 4:29:12 PM EST
Accepted by the SEC: Mon Nov 02 2020
Period: Wednesday, September 30, 2020
Industry: Trucking And Courier Services No Air

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