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United Parcel Service Inc (UPS) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

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United Parcel Service Inc

HISTORY TOOLS
CIK: 1090727 Ticker: UPS

Exhibit 99.1
For Immediate Release

UPS RELEASES 1Q 2022 EARNINGS

•Consolidated Revenues of $24.4B, Up 6.4% from Last Year
•Consolidated Operating Profit of $3.3B, Up 17.6% from Last Year; Up 12.1% on an Adjusted* Basis
•Diluted EPS of $3.03; Adjusted Diluted EPS Up 10.1% Over Last Year to $3.05
•Reaffirms Full-Year 2022 Financial Guidance; Raises Targeted Share Repurchases to $2B for 2022

ATLANTA – April 26, 2022 – UPS (NYSE:UPS) today announced first-quarter 2022 consolidated revenue of $24.4 billion, a 6.4% increase over the first quarter of 2021. Consolidated operating profit was $3.3 billion, up 17.6% compared to the first quarter of 2021, and up 12.1% on an adjusted basis. Diluted earnings per share were $3.03 for the quarter; adjusted diluted earnings per share of $3.05 were 10.1% above the same period in 2021.

For the first quarter of 2022, GAAP results include a net charge of $19 million, or $0.02 per diluted share, comprised of after-tax transformation and other charges of $43 million offset by an after-tax gain of $24 million resulting from the curtailment of benefits in a Canadian retirement plan.

“I want to thank all UPSers for their outstanding efforts during a challenging first quarter to serve the needs of our customers,” said Carol Tomé, UPS chief executive officer. “The agility of our network and the continued execution of our strategy delivered another quarter of strong financial performance, putting us on our way to achieving our 2022 consolidated financial targets.”


U.S. Domestic Segment

1Q 2022
Adjusted
1Q 2022

1Q 2021
Adjusted
1Q 2021
Revenue$15,124M$14,010M
Operating profit$1,662M$1,705M$1,359M$1,463M

•Revenue grew 8.0%, driven by a 9.5% increase in revenue per piece.
•Operating margin was 11.0%; adjusted operating margin was 11.3%.

International Segment

1Q 2022
Adjusted
1Q 2022

1Q 2021
Adjusted
1Q 2021
Revenue$4,876M$4,607M
Operating profit$1,116M$1,120M$1,085M$1,091M

•Revenue increased 5.8%, driven by a 10.5% increase in revenue per piece.
•Operating margin was 22.9%; adjusted operating margin was 23.0%.











The following information was filed by United Parcel Service Inc (UPS) on Tuesday, April 26, 2022 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

Cover
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
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 (Detail)
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
Location On The Balance Sheet Of Derivative Assets And Liabilities (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
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 (Tables)
Segment Information - Additional Information (Detail)
Segment Information - Results Of Operations (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)
Ticker: UPS
CIK: 1090727
Form Type: 10-Q Quarterly Report
Accession Number: 0001090727-22-000022
Submitted to the SEC: Wed May 04 2022 4:40:37 PM EST
Accepted by the SEC: Wed May 04 2022
Period: Thursday, March 31, 2022
Industry: Trucking And Courier Services No Air

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