For Immediate Release
UPS RELEASES 2Q 2021 EARNINGS
•Consolidated Revenues of $23.4B, Up 14.5% from Last Year
•Consolidated Operating Profit of $3.3B, Up 47.3% from Last Year; Up 40.8% on
an Adjusted* Basis
•Diluted EPS of $3.05, up 50.2% from Last Year; Adjusted Diluted EPS Up 43.7%
ATLANTA – July 27, 2021 – UPS (NYSE:UPS) today announced second-quarter 2021 consolidated revenue of $23.4 billion, a 14.5% increase over the second quarter of 2020. Consolidated operating profit was $3.3 billion, up 47.3% compared to the second quarter of 2020, and up 40.8% on an adjusted basis. Diluted earnings per share were $3.05 for the quarter, 50.2% above the same period in 2020, and up 43.7% on an adjusted basis.
For the second quarter of 2021, GAAP results include after-tax transformation and other charges of $11 million, equivalent to $0.01 per share. Also in the second quarter, the company completed its divestiture of UPS Freight on April 30. The sale triggered re-measurement of certain U.S. pension and postretirement benefit plans. As a result, UPS pension and postretirement liabilities were lowered by $2.1 billion. The re-measurement had no meaningful impact to the company’s consolidated second-quarter net earnings. Year-to-date cash from operations was $8.5 billion, up 42.2% compared to the same period in 2020, with free cash flow of $6.8 billion, a 74.7% increase above the first six months of 2020.
“I want to thank all UPSers for executing our strategy and delivering high service levels, which fueled record financial results in the second quarter,” said Carol Tomé, UPS chief executive officer. “Through our better not bigger framework, we are moving our world forward by delivering what matters.”
U.S. Domestic Segment
•Revenue was up 10.2%, driven by a 13.4% increase in revenue per piece from strong improvement in all products.
•Operating margin was 10.9%; adjusted operating margin was 11.6%.
•Revenue increased 30.0%, led by Europe.
•Operating margin was 24.6%; adjusted operating margin was 24.7%.
The following information was filed by United Parcel Service Inc (UPS) on Tuesday, July 27, 2021 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.