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?

 

Get Advice Join TDU Donate

Recent News

UPS Cashes in on COVID with $2 Billion Profits

UPS made $2 billion in profits after taxes in the third quarter thanks to exploding volume and excessive overtime by UPS Teamsters. Revenue for the quarter topped $21 billion.

Pension Activists Blitz White House with Calls

The National United Committee to Protect Pensions (NUCPP) is calling on all active and retired Teamsters to blitz the White House today with calls asking the President to support a pension solution and to be sure it's included in any stimulus plan that crosses his desk. They encourage members and retirees call 202-456-1414 to demand support for defending hard earned pensions that are under attack through no fault of working people. 

View More News Posts