Tuesday, January 31st, 2017
UPS has announced its fourth quarter (Q4) 2016 results today – and highlights include an 8.4% jump in international export shipments.
In a statement issued today (31 January), David Abney, UPS chairman and CEO, said: “Revenue and volume growth accelerated for UPS during the holiday season and we provided high service levels for our customers.
“The International segment delivered another extraordinary performance, while the U.S. managed through considerable changes in product mix. Our strategies and initiatives are creating long-term value for both UPS customers and shareowners.”
Revenue for the quarter was $16.931bn, up from $16.054bn. Revenues for the full 2016 were a record $61bn.
The group made a loss of $428m in the quarter, compared to a $2.051bn profit in Q4 2015. However, UPS explained: “Full-year and fourth-quarter 2016 results include a non-cash, after-tax, mark-to-market pension charge of $1.90 per diluted share. In the prior-year period, the company reported non-cash, after-tax charges of $0.09 per diluted share related to pension mark-to-market charges.” When adjusted to exclude these charges, UPS made a profit of $2.223bn in Q4 2016 – which was up on last year’s final quarter.
During the quarter, UPS delivered 1.4bn packages, up 7.1% over last year.
Ken Wood is the founder of LJM Consultants. LJM helps clients negotiate “Best in Class” UPS/FedEx agreements. LJM was recently named the “best parcel auditing company in America” and was also inducted into Inc. Magazine’s Top 500/5000 fastest growing companies in America for 2013. To learn how LJM Consultants can help your company get the parcel contract you deserve, call 631-844-9500 or email kenwood@myLJM.com.