UPS executives announced the company made $1.2 billion in profit after taxes for the first three months of 2019.
The haul was actually slightly less than the $1.35 billion predicted by Wall Street. UPS said winter storms cost the company $80 million.
UPS Freight profits increased by almost 18 percent from last year to $200 million for the quarter.
UPS predicts that profits for the year will exceed $6.5 billion—and Wall Street analysts agree.
Most of Yellow’s terminal properties closed at auction on December 4, with XPO the biggest buyer, paying $870 million or nearly half of the $1.9 billion that the 128 properties yielded. XPO bought 28 properties and Estes bought 24.
Hear from UPS Teamsters and guest speaker Teamsters General President Sean O'Brien about moving from contract campaign to contract enforcement this Sunday, December 10 at 12 PM EST/11 AM CT/10 AM MT/9AM PT. REGISTRATION IS NOW CLOSED. A recording of the webinar will be available shortly.
