UPS publica las ganancias del T1 2020

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Atlanta, Georgia

La experiencia y la red global flexible de UPS mantienen las cadenas de suministro en movimiento

  • Focused on the Health and Safety of Employees and the Public
  • Supported Customers with Near Record On-Time Service
  • COVID-19 Weighed on First-Quarter Results
  • Cash from Operations of $2.6B; Adjusted* Free Cash Flow of $1.6B
  • UPS Liquidity and Financial Condition Remain Strong

UPS (NYSE:UPS) today announced first-quarter 2020 diluted earnings per share of $1.11 and adjusted diluted earnings per share of $1.15.  The company’s results were adversely affected by the disruption to customers from the global coronavirus pandemic. 

UPS has been designated by governments around the world as a Critical Infrastructure Business and continues to operate in all major countries, while adhering to additional regulatory requirements. In the U.S., the company is also front and center in leading the pandemic logistics response for the Federal Emergency Management Agency (FEMA) and other federal and state government agencies. As a logistics leader, UPS is supporting FEMA and its Project Airbridge by managing charter flights around the globe. UPS has delivered several million pounds of Personal Protective Equipment for FEMA into dedicated UPS distribution space. In addition, as part of FEMA’s Project Airbridge and other healthcare-related missions, in April the company increased the number of flights by over 200 to transport critical life-saving cargo to the U.S. and Europe.

“I want to thank all 495,000 UPSers for their extraordinary efforts to leverage the full power of our global network in the fight against the coronavirus pandemic, keeping critical goods moving for businesses and consumers globally,” said David Abney, UPS chairman and CEO. “The world is counting on UPS more than ever before as we support the people on the front lines of this crisis and our customers with speed, ingenuity and reliability.”

In the first quarter of 2020, the company incurred a pre-tax transformation charge of $45 million, or $0.04 per share after tax. First-quarter 2019 adjusted results excluded a pre-tax charge of $123 million, or $0.11 per share after tax, from transformation-related charges.


Consolidated Results


T1 2020

1Q 2020


T1 2019

1Q 2019


18.035 millones de USD


17.160 millones de USD


Net Income

965 millones de USD

1.000 millones de USD

1.111 millones de USD

1204 millones de USD

Diluted Earnings Per Share

1,11 USD

1,15 USD

1,28 USD

1,39 USD

* “Adjusted” amounts presented in this release are non-GAAP financial measures. Consulta el apéndice de este comunicado para ver un debate sobre las medidas financieras no conformes con PCGA, incluida una conciliación de la medida de PCGA más estrechamente correlacionada.

For the total company in 1Q 2020:

  • Consolidated revenue increased to $18 billion, driven by growth in business-to-consumer shipments and gains in healthcare.
  • Net income was $965 million; adjusted net income was $1 billion. 
  • Net income included material headwinds due to disruptions from the coronavirus pandemic, higher self-insurance accruals and other items.
  • Adjusted capital expenditures were $939 million to support network enhancements.
  • Dividends per share increased 5.2%, with dividends remaining a high priority for the company.

U.S. Domestic Segment

The progression of stay-at-home restrictions instituted across the country as a result of coronavirus closed businesses and disrupted supply chains, resulting in an unprecedented shift in customer and product mix in the quarter. The company’s automated hubs and other transformation investments generated efficiency gains; however, these benefits did not offset the significant headwinds from the impact the coronavirus pandemic had on UPS customers, coupled with higher self-insurance accruals. UPS continues to adapt its network to the current economic environment while supporting customers and critical government programs.



T1 2020

1Q 2020


T1 2019

1Q 2019


$11,456 M


10.480 millones de USD


Beneficio operativo

$364 M

401 millones de USD

666 millones de USD

694 millones de USD

  • Revenue increased 9.3% and average daily volume was up 8.5%, with growth across all products.
  • Next Day Air average daily volume grew 20.5%, the fourth consecutive quarter of double-digit increases.
  • Revenue per piece decreased less than 1% due to changes in customer and product mix.
  • Commercial deliveries declined while residential deliveries were elevated.
  • Shipment growth in the quarter was driven by large customers.
  • On-time performance across all service levels was near a record high in a dynamic environment.

Segmento internacional

UPS’s International segment generated $551 million in operating profit, or $558 million in operating profit on an adjusted basis, despite weakening global economic activity. The company executed well to contain costs and target customer opportunities as the coronavirus pandemic rapidly spread from Asia to other parts of the world.



T1 2020

1Q 2020


T1 2019

1Q 2019


$3,383 M


3.459 millones de USD


Beneficio operativo

$551 M

558 millones de USD

528 millones de USD

612 millones de USD

  • International average daily volume was down 1.8% with declines in commercial deliveries.
  • China volume primarily rebounded in March as its economic recovery accelerated, offsetting declines in January and February. Healthcare, high-tech and e-commerce sectors were positive contributors.
  • International cost per piece was down 0.5%, primarily due to the impact of currency. Additionally, the significant change in mix was partially offset by network adjustments to align capacity to changing trade patterns.
  • Operating margin was 16.3%; adjusted operating margin remained strong at 16.5%.

Cadena de suministro y segmento de carga

Supply Chain and Freight generated operating profit of $157 million, or $158 million in operating profit on an adjusted basis, despite significant economic headwinds from the coronavirus pandemic. Revenue was negatively impacted by widespread reductions in global economic activity. The segment is taking numerous actions to assist customers and improve financial performance as demand recovers, including activating aircraft charters from Asia, expanding customer relationships in the healthcare sector and applying peak surcharges where appropriate.



T1 2020

1Q 2020


T1 2019

1Q 2019


$3,196 M


3.221 millones de USD


Beneficio operativo

$157 M

158 millones de USD

200 millones de USD

211 millones de USD

  • Revenue was down less than 1% due to disciplined focus on growth opportunities and the segment’s broad portfolio of solutions.
  • Toward the end of the quarter, UPS Freight and Coyote experienced depressed volume levels primarily from mandated stay-at-home restrictions and businesses closures.
  • Logistics grew both revenue and operating profit, led by double-digit growth from Marken.
  • Within the Forwarding unit, International Air Freight tonnage rebounded in March generating revenue and profit growth in the quarter.


At this time, UPS is unable to predict the extent of the business impact or the duration of the coronavirus pandemic, or reasonably estimate its operating performance in future quarters. As a result, the company is withdrawing its previously issued 2020 revenue and diluted earnings per share growth guidance. UPS has taken steps to ensure it remains strong and resilient throughout this period, including:

  • The company expects 2020 capital expenditures will be reduced by approximately $1 billion from previous estimates.
  • UPS is suspending share buybacks for 2020, reducing its planned full-year repurchase target by approximately $783 million.

“We will continue to adapt through this challenging period and prioritize investments and operational decisions that put UPS in the best financial position.” said Brian Newman, UPS’s chief financial officer. “We take a disciplined and balanced approach to capital allocation and are confident in our liquidity position including our commitments to capital management and dividends.”

Información para la llamada de conferencia

UPS CEO David Abney and CFO Brian Newman will discuss first-quarter results with investors and analysts during a conference call at 8:30 a.m. ET, 28 de abril de 2020. La llamada estará disponible al público mediante un webcast en directo. Para acceder a la llamada, entre en y haga clic en “Earnings Webcast” (Webcast sobre ganancias). Se incluye información financiera adicional en los programas financieros detallados que se publican en en la sección “Financials” (Finanzas), según fueron registrados en la SEC como anexo a nuestro Informe Actual sobre el Formulario 8-K.

Acerca de UPS

UPS (NYSE: UPS) es un líder mundial en logística que ofrece una amplia gama de soluciones, incluido el transporte de paquetes y carga, la facilitación del comercio internacional y el despliegue de tecnología avanzada para administrar con mayor eficiencia el mundo de los negocios. Con sede en Atlanta, UPS presta servicio a más de 220 países y territorios de todo el mundo. UPS fue galardonada por el Mejor Servicio al Cliente de los EE. UU. para servicios de envío y entrega por la revista Newsweek; fue nombrada la marca de transporte más valiosa por la revista Forbes; y alcanzó una posición superior en la lista de responsabilidad social JUST 100, el Índice Mundial de Sostenibilidad Dow Jones y el Harris Poll Reputation Quotient, entre otras prestigiosas clasificaciones y premios. La empresa se encuentra en la web en o y su blog corporativo se encuentra en El boletín electrónico de sostenibilidad de la empresa, UPS Horizons, se encuentra en Para tener acceso a las noticias de UPS, siga a @UPS_News en Twitter. Para hacer envíos con UPS, visite

Declaraciones prospectivas

Este comunicado, nuestro Informe Anual sobre el Formulario 10-K para el año finalizado el 31 de diciembre de 2019 y otros documentos presentados ante la Comisión de Valores y Bolsa contienen y hacen referencia a “declaraciones prospectivas” conforme al significado de la Ley de Reforma de Litigios sobre Valores Privados de 1995. Las declaraciones que no sean de hechos actuales o históricos, y todas las declaraciones acompañadas de términos como “creer”, “proyectar”, “esperar”, “estimar”, “asumir”, “pretender”, “anticipar”, “apuntar”, “planificar”, y las variaciones de los mismos, tienen como objetivo ser declaraciones prospectivas. Las declaraciones prospectivas están sujetas a las disposiciones de salvaguardia de las leyes federales de valores de conformidad con la Sección 27A de la Ley de Valores de 1933 y la Sección 21E de la Ley de la Bolsa de Valores de 1934.

De vez en cuando, también incluimos declaraciones sobre el futuro en otros materiales de divulgación pública. Esas declaraciones pueden estar relacionadas con nuestra intención, creencias y expectativas actuales sobre nuestra dirección estratégica, perspectivas y resultados futuros, y son nuestras expectativas actuales o previsiones de acontecimientos futuros; no se refieren estrictamente a hechos históricos o actuales. La administración considera que estas declaraciones prospectivas son razonables en el momento en que se hacen. Sin embargo, hay que tener cuidado de no depositar una confianza indebida en ninguna de las declaraciones prospectivas, ya que estas solo se refieren a la fecha en que se hicieron.

Las declaraciones prospectivas están sujetas a ciertos riesgos e incertidumbres que podrían hacer que los resultados reales difieran materialmente de nuestra experiencia histórica, expectativas actuales o resultados previstos. Estos riesgos e incertidumbres, muchos de los cuales están fuera de nuestro control, incluyen, entre otros: changes in general economic conditions, in the U.S. or internationally; significant competition on a local, regional, national and international basis; changes in our relationships with our significant customers; changes in the complex and stringent regulation in the U.S. and internationally (including tax laws and regulations); increased physical or data security requirements that may increase our costs of operations and reduce operating efficiencies; legal, regulatory or market responses to global climate change; results of negotiations and ratifications of labor contracts; strikes, work stoppages or slowdowns by our employees; the effects of changing prices of energy, including gasoline, diesel and jet fuel, and interruptions in supplies of these commodities; changes in exchange rates or interest rates; uncertainty from the expected discontinuance of LIBOR and transition to any other interest rate benchmark; our ability to maintain the image of our brand; breaches in data security; disruptions to the Internet or our technology infrastructure; interruptions in or impacts on our business from natural or man-made event or disasters including terrorist attacks, epidemics and pandemics; our ability to accurately forecast our future capital investment needs; exposure to changing economic, political and social developments in international and emerging markets; changes in business strategy, government regulations, or economic or market conditions that may result in substantial impairment of our assets; increases in our expenses or funding obligations relating to employee health, retiree health and/or pension benefits; potential additional tax liabilities in the U.S. or internationally; the potential for various claims and litigation related to labor and employment, personal injury, property damage, business practices, environmental liability and other matters; our ability to realize the anticipated benefits from acquisitions, joint ventures or strategic alliances; our ability to realize the anticipated benefits from our transformation initiatives; cyclical and seasonal fluctuations in our operating results; our ability to manage insurance and claims expenses; and other risks discussed in our filings with the Securities and Exchange Commission from time to time, including our Annual Report on Form 10-K for the year ended December 31, 2019 and subsequently filed reports. Such risks and uncertainties are currently amplified by and may continue to be amplified by the coronavirus pandemic and the impact it has had, and may continue to have on the global economy and our business, financial position and results of operations. You should consider the limitations on, and risks associated with, forward-looking statements and not unduly rely on the accuracy of information contained in such forward-looking statements. No asumimos ninguna obligación de actualizar las declaraciones prospectivas para reflejar eventos, circunstancias, cambios en las expectativas o la aparición de eventos imprevistos después de la fecha de dichas declaraciones, excepto cuando lo exija la ley.

Conciliación de medidas financieras conformes y no conformes a PCGA

We supplement the reporting of our financial information determined under generally accepted accounting principles ("GAAP") with certain non-GAAP financial measures, including "adjusted" operating profit, operating margin, other income (expense), income before income taxes, income tax expense, net income and earnings per share. We periodically disclose free cash flow, free cash flow excluding discretionary pension contributions, and capital expenditures including principal repayments of capital lease obligations. Additionally, we supplement the reporting of 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. Las medidas equivalentes determinadas de acuerdo con PCGA también se denominan “informadas” o “no ajustadas”.

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); recognition 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.

Consideramos que estas medidas no conformes a PCGA proporcionan información adicional significativa para ayudar a los usuarios de nuestros estados contables a comprender nuestros resultados financieros y flujos de efectivo, y a evaluar nuestro desempeño continuo, ya que excluyen ítems que pueden no ser indicativos, o no están relacionados, con nuestras operaciones principales y pueden proporcionar una base de referencia útil para analizar las tendencias en nuestras principales operaciones comerciales. 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.

Las medidas financieras no conformes a PCGA deben considerarse complementarias, y no como alternativa, a nuestros resultados informados, preparados de conformidad con PCGA. Nuestra información financiera no conforme al PCGA no representa una base integral de contabilidad. Por lo tanto, nuestra información financiera no conforme al PCGA puede no ser comparable con medidas de títulos similares informadas por otras empresas.

Costes relacionados con los programas de reestructuración; costes de la estrategia de transformación

Los resultados operativos, el margen operativo, los ingresos antes de impuestos, los ingresos netos y las ganancias por acción no conformes con PCGA excluyen el impacto de los costes relacionados con los programas de reestructuración, incluidos los costes de la estrategia de transformación. Creemos que esto proporciona una comparación útil de los resultados financieros de un año a otro sin considerar el impacto a corto plazo de los costes de reestructuración. Evaluamos nuestro rendimiento de esta forma ajustada.

Impacto de los cambios en las tasas de cambio de divisa extranjera y las actividades de cobertura del riesgo

Creemos que la información referente a los ingresos por conversión de moneda, los ingresos por pieza y las ganancias operativas permite que los usuarios de nuestros estados financieros entiendan las tendencias del crecimiento en nuestros productos y resultados. We evaluate the performance of our International Package and Supply Chain and Freight segments on this currency-neutral basis.

Los ingresos (sin los efectos de la conversión de divisas), ingresos por pieza y el beneficio operativo se calculan al dividir los ingresos en dólares informados del periodo actual, los ingresos por pieza y el beneficio operativo por la tasa de cambio promedio del periodo actual para determinar el ingreso en la divisa local del periodo actual, los ingresos por pieza y el beneficio operativo. Las cantidades derivadas luego se multiplican por las tasas de cambio promedio de divisa extranjera para convertir los resultados comparables para cada mes en el periodo del año anterior (incluido el impacto periodo tras periodo de las actividades de cobertura del riesgo de divisa extranjera). La diferencia entre los ingresos informados del periodo actual en dólares estadounidenses, los ingresos por pieza y el beneficio operativo, y los ingresos en dólares del periodo actual, los ingresos por pieza y el beneficio operativo constituyen el impacto de las fluctuaciones de divisas periodo tras periodo.

Impacto de los cambios en las tasas de descuento de las pensiones

Las ganancias operativas de las pensiones no conformes a PCGA sin el efecto de las tasas de descuento excluyen el impacto periodo tras periodo de los cambios en las tasas de descuento del coste del servicio de pensiones. We believe this allows users of our financial statements to understand growth trends in our products and results excluding the period over period movement in discount rates. A partir del 1 de enero de 2020, comenzamos a evaluar nuestros segmentos utilizando las ganancias operativas de las pensiones sin el efecto de las tasas de descuento, además de nuestra medida actual de ganancias operativas de los segmentos.

El beneficio operativo de las pensiones sin el efecto de las tasas de descuento se calculan al descontar el valor de los beneficios atribuibles al servicio del empleado en el periodo actual utilizando la tasa de descuento del año anterior aplicable a cada uno de nuestros planes de beneficios definidos patrocinados por la empresa. La diferencia entre esta cantidad derivada y el coste del servicio notificado del periodo actual es el impacto de los movimientos de la tasa de descuento de las pensiones sobre las ganancias operativas periodo tras periodo.

Flujo de efectivo libre y gastos de inversión ajustados

We believe free cash flow, free cash flow excluding discretionary pension contributions and free cash flow plus principal repayments of capital lease obligations 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. El flujo de efectivo disponible, excluidas las contribuciones discrecionales a las pensiones restituye toda contribución discrecional a las pensiones realizada durante el periodo. 

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