February 1, 2012: UPS executives report the company hauled in more than $4.2 billion in profits after taxes in 2011. Management predicts higher volume and higher profits in 2012.
UPS’s profits for the Fourth Quarter were $1.25 billion—not including a $527 million surcharge because of an accounting change in the way UPS tracks its pension expenses.
Including the accounting change, UPS made $725 million in the fourth quarter and $3.8 billion for the year.
UPS predicts that profits will grow 9 to 15 percent this year. That could bring profits this year close to $5 billion.
Teamsters are driving the growth in profits. CEO Scott Davis told a conference call with analysts that “The U.S. is one of the few economies where expectations are greater than last year,” Davis said.