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UPS revenue down 2.5%, profits improve in 4Q2009, sees economic improvement

3-Feb-2010 11:42 AM

UPS revenue down 2.5% - financial highlights:

  • Three months ended 31-Dec-2009:
    • Total revenue: USD12,377 million, -2.5% year-on-year;
      • US Domestic Package: USD7,552 million, -5.5%;
      • International Package: USD2,791 million, +5.8%;
      • Supply Chain & Freight: USD2,034 million, -1.8%;
    • Total operating cost: USD11,118 million, -6.5%;
    • Operating profit*: USD1,259 million, +56.8%;
      • US Domestic Package: USD764 million, -18.0%;
      • International Package: USD467 million, +27.6%;
      • Supply Chain & Freight: 28 million, compared to a loss of USD495 million in the previous corresponding period;
    • Net profit: USD757 million, +198.0%;
  • 12 months ended 31-Dec-2009:
    • Total revenue: USD45,297 million, -12.0%;
      • US Domestic Package: USD28,158 million, -10.0%;
      • International Package: USD9,699 million, -14.1%;
      • Supply Chain & Freight: USD7,440 million, -16.5%;
    • Total operating cost: USD41,496 million, -10.0%;
    • Operating profit: USD3,801 million, -29.4%;
      • US Domestic Package: USD2,138 million, -45.3%;
      • International Package: USD1,367 million, -13.5%;
      • Supply Chain & Freight: USD296 million, compared to a loss of USD105 million in the previous corresponding period;
    • Net profit: USD2,152 million, -28.3%;
  • Fleet:
    • Owned & Capital Leases: 212;
    • Leases & Charters from others: 298;
    • On order: 27. [more]

*2008 comparable figures include a USD548 million goodwill impairment charge in UPS Freight within the Supply Chain & Freight segment and a USD27 million intangible impairment charge in European International Package operations

UPS: "Economic forecasts indicate gradual improvement as 2010 unfolds. The first quarter will be the most challenging of the year for UPS with profitability only slightly better than last year. For 2010, UPS will substantially improve performance by leveraging our extensive product portfolio and global network. As a result, we anticipate that diluted earnings per share should be within a range of USD2.70 to USD3.05, an increase of 17% to 32% over 2009 results. We also expect cash generation to remain strong in 2010, with capital expenditures totalling USD1.8 billion. This is well below our historical range but still supports growth opportunities," Kurt Kuehn, CFO. Source: UPS, 02-Feb-2010.