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UPS 2Q2013 results below expectations

24-Jul-2013 10:36 AM

UPS revenue up 1% - financial highlights:

  • Three months ended 30-Jun-2013:
    • Total revenue: USD13,507 million, +1.2% year-on-year;
      • US domestic package: USD8241 million, +2.35;
      • International package: USD3062 million, +1.6%;
      • Supply chain and freight: USD2204 million, -3.2%;
    • Operating profit: USD1742 million, -2.7%;
      • US domestic package: USD1132 million, -0.25;
      • International package: USD451 million, -0.7%;
      • Supple chain and freight: USD159 million, -21.3%;
    • Net profit: USD1071 million, -4.0%;
  • Six months ended 30-Jun-2013:
    • Total revenue: USD26,941 million, +1.7%;
      • US domestic package: USD16,512 million, +2.8%;
      • International package: USD6040 million, +1.0%;
      • Supply chain and freight: USD4389 million, -1.2%;
    • Operating profit: USD3322 million, -1.1%;
      • US domestic package: USD2217 million, +4.1%;
      • International package: USD803 million, -6.8%;
      • Supply chain and freight: USD302 million, -17.9%;
    • Net profit: USD2108 million, +1.1%;
    • Total assets: USD36,703 million;
    • Cash and marketable securities: USD6192 million;
    • Total liabilities: USD33,073 million. [more - original PR]

UPS: "UPS second quarter results were below our expectations as a result of disappointing performance in freight forwarding and a slight miss in International package. Going forward, UPS is focused both on our long-term strategy and adapting to changing market conditions. Looking toward the back half of the year, although global economic expectations have been lowered, UPS expects growth in adjusted diluted earnings per share of 4-13% over the same period last year," Kurt Kuehn, CFO. Source: Company statement, 23-Jul-2013.