UPS veröffentlicht für das 3. Quartal 2019 das Ergebnis789

ATLANTA, GA

Operatives Ergebnis steigt um mehr als 20%, mit Margenausweitung in allen Segmenten

• 3Q19 EPS of $2.01, Up More Than 16%; Adjusted* EPS Up 13.7% to $2.07
• U.S. Daily Volume Grew Above 9%; Next Day Air Volume Jumped Nearly 24%
• U.S. Operating Profit Rose Over 28%; Grew Nearly 26% on an Adjusted Basis
• Positive Operating Leverage in U.S. Driven by Lower Unit Cost
• International Operating Profit Up 24.4%; and 20.3% on an Adjusted Basis
• Supply Chain and Freight Operating Margin of 7.3%; Adjusted Margin of 7.6%
• Reaffirms 2019 Adjusted EPS and Raises Adjusted FCF Target to Over $4.0B

UPS (NYSE:UPS) today announced third-quarter 2019 adjusted earnings per share of $2.07, a 13.7% increase over the same period last year. The company delivered strong operating profit growth of more than 20%, led by the U.S. Domestic and International segments. U.S. Domestic performed exceptionally well year-over-year, with volume gains across all products.

“Our results reflect significant progress from our transformation initiatives, and our ability to generate growth and deliver increased efficiencies in a dynamic economic environment,” said David Abney, UPS chairman and CEO. “As we recently announced, we continue to forge new partnerships and create innovative solutions to accelerate growth in the most attractive opportunities.”

Transformation strategy costs are excluded from adjusted results. Adjusted third-quarter 2019  results exclude a pre-tax transformation charge of $63 million, or $0.06 per diluted share after tax.  Adjusted third-quarter 2018 results excluded a pre-tax transformation charge of $97 million, or $0.09 per share after tax.  

* “Adjusted” and amounts presented in this release are non-GAAP financial measures. See the appendix to this release for a discussion of non-GAAP financial metrics, including a reconciliation to the most closely correlated GAAP measure.

For the total company in 3Q 2019:

• Consolidated revenue increased 5% to $18.3 billion, driven by strong average daily volume growth in the U.S.    
• Total operating profit growth was very strong at more than 23%, and 20.1% on an adjusted basis, led by the U.S. Domestic and International segments.
• Total operating margin expanded 170 basis points**; adjusted operating margin expanded 150 basis points.
• Adjusted capital expenditures for the year are approximately $4.5 billion to support network enhancements.
• Year-to-date cash from operations was $5.7 billion and adjusted free cash flow grew to $3.2 billion.
• Dividends per share increased 5.5%, and the company repurchased 7 million shares for approximately $753 million year-to-date.

US-Inlandssegment

In the U.S. Domestic segment, total volume across all products grew more than 9%.  Next Day Air increased nearly 24%; Deferred Air grew more than 17%; and Ground volume rose nearly 7%.  Growth came from both B2C and B2B shippers, led by the retail, healthcare and high-tech sectors.

“The investments we are making in new facilities and automation in our network, coupled with solid execution of our strategies, are producing strong results, including strong, positive operating leverage,” said Abney.  “We see significant near-term benefits to both top- and bottom-line results in the U.S. and continued momentum into the future.”

• Revenue grew more than $1 billion, a nearly 10% increase.
• Operating profit increased 28.1%, and nearly 26% on an adjusted basis.
• Operating margin was 10.6%; adjusted operating margin expanded 130 basis points.
• Unit costs were lower by 2.7%; on an adjusted basis, down 2.5%, contributing to positive operating leverage.  

Internationales Segment

The International segment reported strong operating profit and expanded operating margin. The company’s performance is the result of a number of items in the quarter, including strong cost control, good execution and targeted domestic and export growth.

• International saw export volume growth on intra-European trade lanes and virtually all Asia trade lanes except Asia-U.S.
• International domestic revenue per piece fell less than 1%, but grew 2.3% when adjusting for currency.
• Operating profit increased more than 24%, or by 20.3% on an adjusted basis.
• Industry-leading operating margin remained strong at 19.1%; adjusted operating margin expanded 320 basis points**.

• **One basis point equals one-hundredth of a percentage point.

Segment Lieferkette und Fracht

The Supply Chain and Freight segment’s performance was driven by small and medium-sized customers that generate higher-quality revenue, as well as cost management actions throughout the network.

• Operating margin expanded to 7.3%, and to 7.6% on an adjusted basis.
• Logistics revenue increased more than 7% from growth in the healthcare, retail and manufacturing sectors.
• UPS Freight produced an increase in revenue per LTL (less-than-truckload) hundredweight of nearly 4%, driven by its focus on small and medium-sized businesses.
• The Forwarding unit adjusted costs and partially offset the negative revenue impact of trade uncertainty.

Prognose

Das Unternehmen liefert Richtwerte auf bereinigter Basis (Non-GAAP), da es nicht möglich ist, eine Abstimmung vorauszusagen oder bereitzustellen, welche die Auswirkungen zukünftiger marktnaher Rentenanpassungen oder anderer unerwarteter Ereignisse widerspiegelt, die in berichteten (GAAP) Ergebnissen enthalten wären und von wesentlicher Bedeutung sein könnten.

“UPS delivered solid performance for the third quarter,” said Brian Newman, UPS’s chief financial officer. “Positive impacts from our transformation initiatives are visible in our results as we continue to improve network efficiencies and create new solutions that will open more growth opportunities well into the future.”

• The company reaffirms full-year adjusted diluted EPS in the range of $7.45 to $7.75.
• Guidance assumes no further deterioration regarding global trade uncertainty or U.S. industrial weakness.
• Adjusted free cash flow for the year is projected to be over $4.0 billion.
• Capital investments have been reduced in both 2019 and 2020 by about $500 million each year. Network automation targets and other transformation goals remain unchanged.
• The effective tax rate for the full year 2019 is estimated to be between 22% and 23%.
• Transformation charges are not included in the adjusted guidance.

**One basis point equals one-hundredth of a percentage point.

Informationen zur Telefonkonferenz

UPS CEO David Abney, CFO Brian Newman and former CFO Richard Peretz will discuss third-quarter results with investors and analysts during a conference call at 8:30 a.m. ET, 22. Oktober 2019.  That call will be open to others through a live Webcast.  To access the call, go to www.investors.ups.com and click on “Earnings Webcast.” Zusätzliche Finanzinformationen sind in den detaillierten Abschlüssen enthalten, die unter www.investors.ups.com unter „Finanzen“ veröffentlicht werden und als eine Anlage zu unserem aktuellen Bericht auf Formular 8-K bei der SEC eingereicht wurden.

Über UPS

UPS (NYSE: UPS) ist ein weltweit führendes Logistikunternehmen, das eine Vielzahl von Lösungen wie den Transport von Paketen und Fracht, die Erleichterung des internationalen Handels und den Einsatz von Fortschrittstechnologien bereitstellt, um die Geschäftswelt effizienter zu gestalten. Von seinem Hauptsitz in Atlanta aus bedient UPS mehr als 220 Länder und Regionen weltweit. Zusätzlich zu weiteren prestigeträchtigen Auszeichnungen und Ehrungen erhielt UPS von der Zeitschrift Newsweek die Auszeichnung America’s Best Customer Service als Unternehmen mit dem besten Kundenservice in Amerika im Bereich Versand- und Zustelldienste, wurde von Forbes als wertvollste Marke im Bereich Transport ausgezeichnet und erzielte Spitzenplätze auf der Liste JUST 100 für soziale Verantwortung, auf dem Dow Jones Sustainability World Index und dem Harris Poll Reputation Quotient. The company can be found on the web at ups.com or pressroom.ups.com and its corporate blog can be found at ups.com/longitudes The company’s sustainability eNewsletter, UPS Horizons, can be found at ups.com/sustainabilitynewsletter. Um Neuigkeiten von UPS direkt zu erhalten, folgen Sie @UPS_News auf Twitter. Um mit UPS zu versenden, besuchen Sie ups.com/ship.

Zukunftsgerichtete Aussagen

Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements, including statements regarding the intent, belief or current expectations of UPS and its management regarding the company's strategic direction, prospects and future results, involve certain risks and uncertainties.

Certain factors may cause actual results to differ materially from those contemplated by the forward-looking statements, including changes in economic and other conditions in the markets in which we operate, governmental regulations (including tax laws and regulations), our competitive environment, the facts or assumptions underlying our health and pension benefit funding obligations, the results of negotiation and ratification of labor contracts, the impact of any strikes, work stoppages or slowdowns, changes in aviation and motor fuel prices, cyclical and seasonal fluctuations in our operating results, and other risks discussed in the company's Form 10-K and other filings with the Securities and Exchange Commission, which discussions are incorporated herein by reference.

Abstimmung von GAAP- und Non-GAAP-Kennzahlen

We supplement the reporting of our financial information determined under generally accepted accounting principles ("GAAP") with certain non-GAAP financial measures, including, as applicable, "as adjusted" operating profit, operating margin, other income (expense), pre-tax income, net income and earnings per share. Darüber hinaus legen wir periodisch den freien Cashflow, den freien Cashflow ohne freiwillige Pensionsbeiträge und Investitionen einschließlich der Kapitalrückzahlungen im Zusammenhang mit Finanzierungsleasingverpflichtungen offen. Die entsprechenden gemäß GAAP ermittelten Kennzahlen werden auch als „gemeldete“ oder „nicht bereinigte“ Kennzahlen bezeichnet.

We consider quantitative and qualitative factors in assessing whether to adjust for the impact of items that may be significant or that could affect an understanding of our ongoing financial and business performance or trends. Examples of items for which we may make adjustments include but are not limited to: amounts related to mark-to-market gains or losses (non-cash); settlement of contingencies; gains or losses associated with mergers, acquisitions, divestitures and other structural changes; charges related to restructuring programs such as the implementation of our Transformation strategy; asset impairments (non-cash); amounts related to changes in tax regulations or positions; amounts related to changes in foreign currency exchange rates and the impact of any hedging activities; other pension and postretirement related items; and debt modifications.

We believe that these non-GAAP measures provide additional meaningful information to assist users of our financial statements in understanding our financial results, cash flows and assessing our ongoing performance because they exclude items that may not be indicative of, or are unrelated to, our underlying operations and may provide a useful baseline for analyzing trends in our underlying businesses. Management uses these non-GAAP financial measures in making financial, operating and planning decisions. We also use certain of these measures for the determination of incentive compensation awards.

Die Non-GAAP-Finanzkennzahlen sollten als Ergänzung und nicht als Alternative zu den in Übereinstimmung mit GAAP berichteten Ergebnissen betrachtet werden. Unsere Non-GAAP-Finanzdaten sind keine umfassende Gesamtgrundlage für die Rechnungslegung. Aus diesem Grund sind unsere Non-GAAP-Finanzinformationen möglicherweise nicht mit ähnlich bezeichneten Kennzahlen anderer Unternehmen vergleichbar.

Kosten im Zusammenhang mit Restrukturierungsprogrammen; Kosten für Transformationsstrategie

We supplement the presentation of our operating profit, operating margin, pre-tax income, net income and earnings per share with similar non-GAAP measures that exclude the impact of costs related to restructuring programs, including Transformation strategy costs.  We believe this adjusted information provides a useful comparison of year-to-year financial performance without considering the short-term impact of restructuring costs. Wir bewerten unsere Leistung auf dieser bereinigten Basis.

Auswirkungen von Wechselkursschwankungen und Hedging-Aktivitäten

We supplement the reporting of our revenue, revenue per piece and operating profit with non-GAAP measures that exclude the period-over-period impact of foreign currency exchange rate changes and hedging activities. Wir glauben, dass Daten zum währungsneutralen Umsatz, Umsatz pro Paket und operativen Gewinn Abschlussadressaten dabei behilflich sind, Wachstumstrends bei unseren Produkten und Ergebnissen besser zu verstehen. We evaluate the performance of our International Package and Supply Chain and Freight segments on this currency-neutral basis.

Der währungsneutrale Umsatz, Umsatz pro Paket und operative Gewinn werden berechnet, indem der ausgewiesene Umsatz, Umsatz pro Paket und operative Gewinn des aktuellen Zeitraums in US-Dollar durch den durchschnittlichen Wechselkurs des aktuellen Zeitraums geteilt werden. Daraus ergibt sich der Umsatz, Umsatz pro Paket und operative Gewinn in lokaler Währung für den aktuellen Zeitraum. Diese abgeleiteten Werte werden dann mit dem durchschnittlichen Wechselkurs multipliziert, der zur Ermittlung der Vergleichswerte für jeden Monat des Vorjahreszeitraums herangezogen wurde (unter Berücksichtigung der Auswirkungen von Aktivitäten zur Absicherung von Wechselkursschwankungen im Quartalsvergleich). Die Differenz zwischen dem ausgewiesenen Umsatz, Umsatz pro Paket und operativen Gewinn des aktuellen Zeitraums in US-Dollar und dem abgeleiteten Umsatz, Umsatz pro Paket und operativen Gewinn des aktuellen Zeitraums in US-Dollar gibt die Auswirkungen der Währungsschwankungen im Quartalsvergleich an.

Freier Cashflow und bereinigte Kapitalaufwendungen

We supplement the reporting of cash flows from operating activities with free cash flow, free cash flow excluding discretionary pension contributions and free cash flow plus principal repayments of capital lease obligations, non-GAAP liquidity measures. We believe these free cash flow measures are important indicators of how much cash is generated by regular business operations and we use them as a measure of incremental cash available to invest in our business, meet our debt obligations and return cash to shareowners. Additionally, we believe that adjusting capital expenditures for principal repayments of capital lease obligations more appropriately reflects the overall cash that we have invested in capital assets.We calculate free cash flow as cash flows from operating activities less capital expenditures, proceeds from disposals of property, plant and equipment, and plus or minus the net changes in finance receivables and other investing activities. Der freie Cashflow ohne freiwillige Pensionsbeiträge rechnet alle in der Periode erfolgten freiwilligen Pensionsbeiträge wieder hinzu.