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2016-02-02

JMW Kommunikation AB: UPS: Bästa Q4 någonsin

UPS DELIVERS PEAK PROFITS

·
Generates Highest-Ever 4Q EPS of $1.57, up 26%

·
4Q Double-Digit Operating Profit Growth and Expanded Operating Margins
in all Three Segments

·
4Q Revenue Dampened by Changes in Fuel and Currency

·
2015 EPS up 14%, Reaches All-Time High of $5.43

·
Record International Operating Profit of $2.2 Billion in 2015, Led by
the Europe Region

·
Announces Full-Year 2016 EPS Guidance of $5.70 to $5.90

ATLANTA, Feb. 2, 2016 - UPS (NYSE:UPS) today announced fourth-quarter
2015 adjusted diluted earnings per share of $1.57, a 26% increase
over adjusted fourth-quarter 2014 results. All three business
segments expanded operating margins and generated double-digit
operating profit growth.

For the full year, UPS achieved adjusted diluted earnings per share of
$5.43, an increase of 14% over 2014 adjusted results. Included in
these results were several discrete tax credits that increased the
earnings per share by about $0.07 for the quarter and a total of
$0.10 for 2015.

Total revenue in the fourth quarter rose slightly, to $16.1 billion.
Revenue growth was slowed by currency translations and lower fuel
surcharges. On a currency-neutral basis, revenue was up 2.4% compared
to the same period last year. Revenue management initiatives continue
to improve base rates across all segments.

"Our flexible integrated network, close collaboration with customers
and the extraordinary efforts of UPSers enabled us to achieve great
service and record financial performance this quarter," said David
Abney, UPS chief executive officer. "This year's results build on our
multi-year strategy to deliver improved shareowner value."

On a reported basis, diluted earnings per share for 2015 were $5.35
compared to $3.28 in 2014. Fourth-quarter GAAP diluted earnings per
share were $1.48 compared to the fourth-quarter 2014 diluted earnings
per share of $0.49. Fourth quarter 2015 results include a $79 million
non-cash, after-tax, mark-to-market pension charge to recognize
lower-than-planned asset returns that were somewhat offset by a
higher discount rate. In the prior-year period, the company reported
non-cash, after-tax charges of $692 million related to pension
mark-to-market charges and the transfer of certain healthcare
liabilities.

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2-2-2

UPS delivered 1.3 billion packages during the fourth quarter, an
increase of 1.8% over the same period last year. For calendar year
2015, the company delivered 4.7 billion packages, up 2.1% over 2014.
During peak season 2015, UPS delivered 612 million packages.

Cash Flow

For the year ended Dec. 31, UPS generated $5.0 billion in free cash
flow. The company paid dividends of $2.5 billion, an increase of 9.0%
per share over the prior year. UPS also repurchased 27 million shares
for approximately $2.7 billion.

U.S. Domestic Package

U.S. Domestic revenue increased 2.6%, to $10.3 billion. Lower fuel
surcharge rates reduced revenue growth by about 250 basis points.
Revenue per package increased slightly to $8.89. Base rates driven by
company actions remain strong while changes in fuel surcharges and
customer mix lowered revenue-per-package growth.

Strong demand from ecommerce shippers contributed to a 2.4% increase
in average daily shipments. Deferred Air products soared 15% and Next
Day Air was up 10% over the same period last year. UPS completed
deliveries to more than 1.9 million new addresses during December,
demonstrating the growing influence of online retail.

Adjusted operating profit increased $209 million, or more than 18%
over the fourth-quarter 2014 adjusted results. Operating margin
expanded 170 basis points, to 13.1%, on an adjusted basis. The
company's focus on revenue quality, combined with better network
performance, resulted in improved operating leverage this quarter.

On a reported basis, operating profit increased $840 million, or 189%
with operating margin of 12.5%, as a result of the mark-to-market
pension entries mentioned above.

International Package

International adjusted operating profit was up 16%, to $624 million,
in the fourth quarter, led by strong performance in Europe.
Disciplined pricing, favourable customer and product mix, combined
with improved operational performance, drove increased profitability.
For the first time, the International segment surpassed $2 billion in
annual adjusted operating profit.

UPS's focus on more-profitable accounts led to improved base rates
across all regions. On a currency-neutral basis, revenue per package
was down 0.9% compared to the fourth quarter of 2014. Lower fuel
surcharge masked revenue per package growth by approximately 350
basis points and offset strong growth in base rates.

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3-3-3

Export shipments increased slightly, led by mid-single digit growth in
the Europe and Americas regions. Growth in Europe transborder
products and exports to the U.S. offset a drop in U.S. and Asia
exports.

On a reported basis, operating profit increased $245 million, or 73%,
as a result of the mark-to-market pension entries mentioned above.

Supply Chain & Freight

Supply Chain & Freight adjusted operating profit increased 11%, to $199 million over adjusted 2014 fourth-quarter results. Total segment revenue increased 6.0% to $2.6 billion. The inclusion of Coyote Logistics revenue for the full quarter more than offset the impact of softer markets, lower fuel surcharges and actions to improve revenue quality in the other business units.

Freight Forwarding generated increased operating profit and margin expansion despite declines in tonnage. International Air Freight benefitted from revenue quality initiatives, which when combined with a drop in buy-rates resulted in the best pricing spreads in several years.

UPS Freight LTL revenue per hundredweight increased 2.1%. Lower fuel
surcharges drove the growth rate lower by about 550 basis points.
This improvement was offset by a 12% tonnage decline that lowered
revenue. UPS continues to focus on profitable revenue in a
challenging market environment.

On a reported basis, operating profit for the segment increased $212
million as a result of the mark-to-market pension entries mentioned
above.

Outlook

"This was the fourth consecutive quarter that UPS exceeded our
financial expectations," said Richard Peretz, UPS chief financial
officer. "Our business generated strong results in 2015. While we
face uncertain macro-economic conditions, we are continuing to invest
for profitable growth," Peretz continued. "Our guidance for 2016
full-year diluted earnings per share is $5.70 to $5.90 an increase of
5% to 9% over adjusted 2015 results. Excluding the 2015 discrete tax
credits, the growth rate is 7% to 11%."

UPS (NYSE: UPS) is a global leader in logistics, offering a broad
range of solutions including the transportation of packages and
freight; the facilitation of international trade, and the deployment
of advanced technology to more efficiently manage the world of
business. Headquartered in Atlanta, USA, UPS serves more than 220
countries and territories worldwide. The company can be found on the
Web at ups.com® and its corporate blog can be found at
Longitudes.ups.com. To get UPS news direct, visit
pressroom.ups.com/RSS.

We supplement the reporting of our financial information determined
under generally accepted accounting principles ("GAAP") with certain
non-GAAP financial measures, including, as applicable, "as adjusted"
operating profit, operating margin, pre-tax income, net income and
earnings per share. The equivalent measures determined in accordance
with GAAP are also referred to as "reported" or "unadjusted."
Additionally, we disclose revenue growth adjusted for the impact of
foreign currency. We believe that these adjusted measures provide
meaningful information to assist investors and analysts in
understanding our financial results and assessing our prospects for
future performance. We believe these adjusted financial measures are
important indicators of our recurring operations because they exclude
items that may not be indicative of, or are unrelated to, our core
operating results, and provide a better baseline for analyzing trends
in our underlying businesses. Furthermore, we use these adjusted
financial measures to determine awards for our management personnel
under our incentive compensation plans.

We supplemented the presentation of our 2015 and 2014 operating
profit, operating margin, pre-tax income, net income and earnings per
share with similar measures that excluded the impact of certain
transactions. In the fourth quarter of 2015, we recorded a $118
million pre-tax charge ($79 million after-tax) related to
mark-to-market loss recognized outside of a 10% corridor for
company-sponsored pension and post-retirement liabilities. This
charge is allocated between the U.S. Domestic Package segment ($62
million), International Package segment ($44 million), and Supply
Chain & Freight segment ($12 million). In the second quarter of 2014,
we recorded a $1.066 billion pre-tax charge ($665 million after-tax)
related to the transfer of postretirement benefit obligations to
multiemployer healthcare plans for certain union employees (under the
Teamsters National Master Agreement). This charge is allocated
between the U.S. Domestic Package segment ($957 million), the
International Package segment ($27 million) and the Supply Chain &
Freight segment ($82 million). In the fourth quarter of 2014, we
recorded a $1.062 billion pre-tax charge ($670 million after-tax)
related to mark-to-market loss recognized outside of a 10% corridor
for company-sponsored pension and post-retirement liabilities and a
$36 million pre-tax charge ($22 million after-tax) related to the
transfer of postretirement obligations to multiemployer healthcare
plans for certain union employees (under non-National Master
Agreement). These charges are allocated between the U.S. Domestic
Package segment ($693 million), the International Package segment
($201 million) and the Supply Chain & Freight segment ($204 million).
We believe these adjusted measures provide additional information
that better enables shareowners to focus on period-over-period
operating performance.

Because non-GAAP financial measures are not standardized, it may not
be possible to compare these financial measures with other companies'
non-GAAP financial measures having the same or similar names. These
adjusted financial measures should not be considered in isolation or
as a substitute for GAAP operating profit, operating margin, income
before taxes, net income and earnings per share, which are the most
directly comparable GAAP financial measures. These non-GAAP financial
measures reflect an additional way of viewing aspects of our
operations that, when viewed with our GAAP results and the preceding
reconciliations to corresponding GAAP financial measures, provide a
more complete understanding of our business. We strongly encourage
investors to review our financial statements and publicly-filed
reports in their entirety and not to rely on any single financial
measure.

Except for historical information contained herein, the statements
made in this release constitute forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. Such forward-looking
statements, including statements regarding the intent, belief or
current expectations of UPS and its management regarding the
company's strategic directions, prospects and future results, involve
certain risks and uncertainties. Certain factors may cause actual
results to differ materially from those contained in the
forward-looking statements, including economic and other conditions
in the markets in which we operate, governmental regulations, our
competitive environment, negotiation and ratification of labor
contracts, strikes, work stoppages and slowdowns, changes in aviation
and motor fuel prices, cyclical and seasonal fluctuations in our
operating results, and other risks discussed in the company's Form
10-K and other filings with the Securities and Exchange Commission,
which discussions are incorporated herein by reference.

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