UPS reports “significant progress” for third quarter
UPS has announced its third-quarter 2019 financial results with the company delivering strong operating profit growth of more than 20%, led by the U.S. Domestic and International segments.
“Our results reflect significant progress from our transformation initiatives, and our ability to generate growth and deliver increased efficiencies in a dynamic economic environment,” said David Abney, UPS chairman and CEO. “As we recently announced, we continue to forge new partnerships and create innovative solutions to accelerate growth in the most attractive opportunities.”
Transformation strategy costs are excluded from adjusted results. Adjusted third-quarter 2019 results exclude a pre-tax transformation charge of $63 million, or $0.06 per diluted share after tax. Adjusted third-quarter 2018 results excluded a pre-tax transformation charge of $97 million, or $0.09 per share after tax.
For the total company in 3Q 2019:
- Consolidated revenue increased 5% to $18.3 billion, driven by strong average daily volume growth in the U.S.
- Total operating profit growth was very strong at more than 23%, and 20.1% on an adjusted basis, led by the U.S. Domestic and International segments.
- Total operating margin expanded 170 basis points; adjusted operating margin expanded 150 basis points.
- Adjusted capital expenditures for the year are approximately $4.5 billion to support network enhancements.
- Year-to-date cash from operations was $5.7 billion and adjusted free cash flow grew to $3.2 billion.
- Dividends per share increased 5.5%, and the company repurchased 7 million shares for approximately $753 million year-to-date.
See the full results
