UPS profits halved in 3Q2012

UPS revenue down 1% - financial highlights for three months ended 30-Sep-2012:

• Total revenue: USD13,071 million, -0.7% year-on-year;
  • US domestic package: USD7861 million, +1.2%;
  • International package: USD2943 million, -3.7%;
  • Supply chain and freight: USD2267 million, -3.2%;
• Total operating costs: USD12,305 million, +7.0%;
• Operating profit: USD766 million, -54.0%;
  • US domestic: USD129 million, -87.7%;
  • International package: USD449 million, +7.7%;
  • Supply chain and freight: USD188 million, -7.4%;
• Net profit: USD469 million, -56.3%;
• Total assets: USD39,066 million, +12.6% when compared to period ended 31-Dec-2011;
• Cash and marketable securities: USD9012 million, +111% when compared to period ended 31-Dec-2011;
• Total liabilities: USD31,452 million, +14.0% when compared to period ended 31-Dec-2011. [more - original PR]

UPS: "While there is some uncertainty around the magnitude of the holiday shopping season, we are confident in UPS's ability to deliver. As a result, we enhanced our guidance by narrowing the range, maintaining our previous midpoint. We anticipate 2012 adjusted diluted earnings per share to be within a range of USD4.55 to USD4.65, an increase of 5%-to-7% over 2011 adjusted results," Kurt Kuehn, CFO. Source: Company statement, 23-Oct-2012.