UPS Profits Top $1 Billion for 3Q

October 25, 2013: UPS announced third quarter profits of $1.1 billion today. Can anyone explain why Hoffa and Hall gave the company healthcare cuts, a longer progression and other contract givebacks?

The company's third quarter profits are up a staggering 134 percent. UPS made $469 million in the third quarter last year, including a $559 million charge on their books for pension adjustments.

Working Teamsters are still fighting for improvements in seven contract supplements and riders that aren't approved. But investors are getting theirs right now. The company paid $1.7 billion in dividends this quarter, a 9 percent increase over last year.

Domestic package operations continue to lead the way with operating profits up by 16%.

In the UPS Freight and Supply Chain segment, profit went up 7%, to $201 million. Revenue in the segment was down slightly from the prior year period to $2.25 billion, as growth in UPS Freight was offset by declines in the Forwarding business.

Teamster members continue to deliver higher earnings and profits. Will Hoffa and Hall make UPS deliver for the 75,000 Teamsters still working under expired supplements and riders?

 


Be the first to comment

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

Recent News

Western Pennsylvania Supplement Out for Second Vote

Fifty seven percent of Western PA UPSers Voted No on the first proposed agreement, with 52% turnout. Now members are preparing to vote for the second time.

Third Quarter Financials: Central States Pension Bleeding - Congress Must Act to Protect Pensions!

The 2018 third quarter Financial and Analytical Report on the Central States Pension Fund shows that the Fund continues to bleed money, underscoring the importance of Congressional action this year to protect the pensions of millions of working families.

View More News Posts