UPS Posts Record Earnings

Make UPS Deliver
January 31, 2013

January 31, 2013: UPS announced record Fourth Quarter and Annual adjusted earnings in a company statement today.

UPS made profits of $2.05 billion excluding a big one-time pension accounting charge.

The company's fourth quarter profits looked like a loss thanks to an accounting gimmick. UPS took a massive one-time $3 billion "non-cash charge" on company pension and benefit plans. This charge did not affect the company's cash flow or benefits paid to participants.

Another one-time event, Hurricane Sandy, also cut into the company's bottom line, diluting earnings by $.05 a share according to the company.

After the pension charge, the company posted an official fourth-quarter net loss of $1.75 billion.

It's contract time. And UPS Teamsters can expect management to use the Fourth Quarter figures to talk up the bad economy.

Management and Teamsters know the truth: UPS continues to gain ground and make profits even in a tough economy.  Just look at the numbers the company can't manipulate through accounting gimmicks.

  • UPS's fourth quarter revenue rose to $14.57 billion—up $400 million compared to last year.
  • Daily package volume was up 3% to 16.2 million domestic packages a day.
  • Operating profit in the company's domestic package operation increased by 4.4%.

UPS Teamsters continue to deliver huge revenue for the company. It's time for UPS to deliver for us by negotiating a fair contract.

Read news coverage:
Pension charge pushes UPS 4Q results into the red
UPS books loss after big pension charge, sees 2013 profit up

Click here to read UPS's official announcement.


Be the first to comment

Please check your e-mail for a link to activate your account.
Get Advice Join TDU Donate

Recent News

Rail Labor History Calendar

Railroad Workers United has produced a Rail Workers Labor History Calendar for 2018. Each month features a different photo from rail labor history of a strike, picket, rally or other rank-and-file action.

Uniting the Movement to Save Our Pensions

Competing pension bills are being put forward that are dividing the pension protection movement. How can we unite retired and active Teamsters to save our pensions and our pension funds?

View More News Posts