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UPS profits up in 2Q2012, downgrades FY2012 guidance

25-Jul-2012 9:55 AM

UPS revenue up 1% - financial highlights:

  • Three months ended 30-Jun-2012:
    • Revenue: USD13,350 million, +1.2% year-on-year;
      • US domestic package: USD8060 million, +4.1%;
      • International package: USD3010 million, -4.1%;
      • Supply chain and freight: USD2280 million, -1.7%;
    • Operating costs: USD11,559 million, +1.0%;
    • Operating profit: USD1790 million, +2.3%;
      • US domestic package: USD1134 million, +13.7%;
      • International package: USD454 million, -10.1%;
      • Supply chain and freight: USD202 million, -16.9%;
    • Net profit: USD1116 million, +2.2%;
  • Six months ended 30-Jun-2012:
    • Revenue: USD26,485 million, +2.8%;
      • US domestic package: USD16,062 million, +5.1%;
      • International package:  USD5980 million, -1.0%;
      • Supply chain and freight: USD4443 million, -0.2%;
    • Operating costs: USD23,126 million, +2.5%;
    • Operating profit: USD3359 million, +4.4%;
      • US domestic package: USD2129 million, +13.4%;
      • International package: USD862 million, -10.0%;
      • Supply chain and freight: USD368 million, -3.7%;
    • Net profit: USD2086 million, +3.9%;
    • Total assets: USD37,177 million, +7.1% when compared to period ended 31-Dec-2011;
    • Cash and marketable securities: USD7322 million, +71.3% when compared to period ended 31-Dec-2011;
    • Total liabilities: USD29,414 million, +6.6% when compared to period ended 31-Dec-2011. [more – original PR]

UPS: "As we look toward the second half of the year, customers are more concerned as greater uncertainty exists. Additionally, economic growth expectations have come down. Consequently, we are reducing our guidance for 2012 diluted earnings per share to a range of USD4.50 to USD4.70, an increase of 3%-to-8% over 2011 adjusted results," Kurt Kuehn, CFO. Source: Company statement, 24-Jul-2012.