April 24, 2014: One day after the International Union announced it is imposing concessions on 13,000 UPS Teamsters, the company announced it made first quarter profits of $911 million.
Brown cashed in nearly a billion dollars despite severe winter storms that lowered the company’s operating profit by $200 million. Without the freak weather, UPS’s earnings would have easily surpassed last year’s first quarter profits of $1 billion.
The company projects profits for the year between $4.7 billion and $5 billion.
UPS’s revenue continued to climb, rising by 2.6% over the first quarter last year to $13.8 billion. Average package volume also continues to grow.
UPS Freight profits are up even though volume is down.
Working Teamsters continue to be the driving force behind massive company profits. The money is there to win better contracts at UPS and UPS Freight. What’s lacking is leadership at the International Union that knows how to do it.