UPS: another quarter of strong financial performance

UPS: another quarter of strong financial performance

UPS has 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.”

2022 Outlook

The company provides guidance on an adjusted (non-GAAP) basis because it is not possible to predict or provide a reconciliation reflecting the impact of future pension mark-to-market adjustments or other unanticipated events, which would be included in reported (GAAP) results and could be material.

For 2022, UPS reaffirms its full-year financial targets:

  • Consolidated revenue of about $102 billion
  • Consolidated adjusted operating margin of approximately 13.7%
  • Adjusted return on invested capital above 30%
  • Capital expenditures of 5.4% of revenue, or approximately $5.5 billion
  • Dividend payments, subject to board approval, of about $5.2 billion

Finally, UPS is announcing its plans to double the amount of share repurchases for 2022, taking the target to $2 billion for the year.

Relevant Directory Listings

Listing image

Doddle

Doddle powers PUDO networks and intelligent returns management for some of the world’s most innovative carriers and posts. Our experience building our own successful PUDO network in the UK means we have unprecedented insight into the needs of consumers, carriers and retailers meaning we can […]

Find out more

Other Directory Listings

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

What is your top business priority?

Thank you for voting
You have already voted on this poll!
Please select an option!








MER Magazine


The Mail & Express Review (MER) Magazine is our quarterly print publication. Packed with original content and thought-provoking features, MER is a must-read for those who want the inside track on the industry.

 

News Archive

Pin It on Pinterest

Share This