Notice
Information contained herein is as of July 27, 2021 and speaks only as of that date. We undertake no obligation to update this information based on events, circumstances or changes in results after the date thereof.
Inc Stat 2021
Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021
(amounts in millions, except per share data)
Statement of Income Data:
Revenue:
U.S. Domestic Package $ 14,010 $ 14,402 $ 28,412 22.3 % 10.2 % 15.8 %
International Package 4,607 4,817 9,424 36.2 % 30.0 % 33.0 %
Supply Chain Solutions(4) 4,291 4,205 8,496 34.3 % 14.3 % 23.6 %
Total revenue 22,908 23,424 46,332 27.0 % 14.5 % 20.4 %
Operating expenses:
Compensation and benefits 11,483 11,327 22,810 13.9 % 4.5 % 9.0 %
Repairs and maintenance 619 599 1,218 9.9 % 8.1 % 9.0 %
Depreciation and amortization 722 739 1,461 11.4 % 11.8 % 11.6 %
Purchased transportation 4,243 4,446 8,689 44.8 % 19.6 % 30.7 %
Fuel 807 915 1,722 6.0 % 83.4 % 36.7 %
Other occupancy 466 402 868 21.7 % 13.2 % 17.6 %
Other expenses 1,803 1,738 3,541 13.3 % 7.4 % 10.3 %
Total operating expenses 20,143 20,166 40,309 18.7 % 10.5 % 14.5 %
Operating profit:
U.S. Domestic Package 1,359 1,567 2,926 273.4 % 32.6 % 89.3 %
International Package 1,085 1,184 2,269 96.9 % 53.6 % 71.6 %
Supply Chain Solutions(4) 321 507 828 104.5 % 95.8 % 99.0 %
Total operating profit 2,765 3,258 6,023 157.9 % 47.3 % 83.4 %
Other income (expense):
Other pension income (expense) 3,603 302 3,905 N/M (7.6)% 497.1 %
Investment income and other 13 43 56 (27.8)% N/M 194.7 %
Interest expense (177) (167) (344) 6.0 % (8.7)% (1.7)%
Total other income (expense) 3,439 178 3,617 N/M 22.8 % N/M
Income before income taxes 6,204 3,436 9,640 396.3 % 45.8 % 167.3 %
Income tax expense (benefit) 1,412 760 2,172 395.4 % 29.0 % 148.5 %
Net income $ 4,792 $ 2,676 $ 7,468 396.6 % 51.4 % 173.3 %
Per share amounts:
Basic earnings per share $ 5.50 $ 3.06 $ 8.54 391.1 % 50.0 % 170.3 %
Diluted earnings per share $ 5.47 $ 3.05 $ 8.51 392.8 % 50.2 % 171.0 %
Dividends declared per share $ 1.02 $ 1.02 $ 2.04 1.0 % 1.0 % 1.0 %
Weighted-Average Shares Outstanding:
Basic 872 875 874 0.9 % 1.0 % 1.0 %
Diluted 876 878 878 0.8 % 1.0 % 1.0 %
As-Adjusted Income Data:
Operating profit: (1)
U.S. Domestic Package $ 1,463 $ 1,675 $ 3,138 264.8 % 37.9 % 94.2 %
International Package $ 1,091 $ 1,190 $ 2,281 95.5 % 41.3 % 62.9 %
Supply Chain Solutions(4) $ 395 $ 408 $ 803 150.0 % 52.8 % 88.9 %
Total operating profit $ 2,949 $ 3,273 $ 6,222 164.0 % 40.8 % 80.8 %
Total other income (expense) (2) $ 149 $ 178 $ 327 (16.3)% 22.8 % 1.2 %
Income before income taxes (1) (2) $ 3,098 $ 3,451 $ 6,549 139.2 % 39.8 % 74.0 %
Net income (3) $ 2,430 $ 2,687 $ 5,117 143.0 % 45.2 % 79.5 %
Basic earnings per share (3) $ 2.79 $ 3.07 $ 5.85 140.5 % 43.5 % 77.3 %
Diluted earnings per share (3) $ 2.77 $ 3.06 $ 5.83 140.9 % 43.7 % 77.7 %
(1) 2021 operating profit and consolidated income before income taxes exclude the impact of $199 million of transformation & other comprising a gain on the divestiture of UPS Freight of $101 million net of a valuation allowance of $66 million, other employee benefits costs of $131 million and other costs of $103 million. These costs are allocated between the U.S. Domestic Package segment ($212 million), International Package segment ($12 million) and Supply Chain Solutions segment (benefit of $25 million).
(2) 2021 total other income (expense) and consolidated income before income taxes exclude the impact of an increase in pension income due to a mark-to-market gain recognized outside of a 10% corridor of $3.3 billion.
(3) 2021 net income and earnings per share amounts exclude the after-tax impact of the adjustments described in (1) and (2), which increased net income by $2.4 billion.
(4) The divestiture of UPS Freight was completed on April 30, 2021.

&"Arial,Bold"United Parcel Service, Inc. Selected Financial Data - Quarterly 2021 (unaudited)

&"Arial,Italic"&9Certain prior year amounts have been reclassified to conform to the current year presentation. &"Arial,Regular"&9Page &P of &N

Inc Stat 2020
Q1 2020 Q2 2020 Q3 2020 Q4 2020 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2020 2020
(amounts in millions, except per share data)
Statement of Income Data:
Revenue:
U.S. Domestic Package $ 11,456 $ 13,074 $ 13,225 $ 15,744 $ 53,499 9.3% 17.3% 15.5% 17.4% 15.1%
International Package 3,383 3,705 4,087 4,770 15,945 (2.2)% 5.7% 17.0% 26.8% 12.1%
Supply Chain & Freight 3,196 3,680 3,926 4,382 15,184 (0.8)% 8.5% 16.5% 29.0% 13.5%
Total revenue 18,035 20,459 21,238 24,896 84,628 5.1% 13.4% 15.9% 21.0% 14.2%
Operating expenses:
Compensation and benefits 10,086 10,843 11,077 12,523 44,529 8.3% 16.6% 15.5% 17.0% 14.4%
Repairs and maintenance 563 554 576 672 2,365 29.7% 17.1% 18.8% 50.7% 28.7%
Depreciation and amortization 648 661 677 712 2,698 14.1% 15.0% 15.3% 13.0% 14.3%
Purchased transportation 2,931 3,716 3,937 5,047 15,631 (1.2)% 23.9% 31.9% 38.7% 24.2%
Fuel 761 499 618 704 2,582 (1.2)% (41.8)% (25.0)% (16.0)% (21.5)%
Other occupancy 383 355 376 425 1,539 3.2% 10.2% 8.7% 20.4% 10.6%
Other expenses 1,591 1,619 1,614 2,776 7,600 18.7% 17.4% 17.5% 52.0% 28.4%
Total operating expenses 16,963 18,247 18,875 22,859 76,944 7.6% 14.7% 16.6% 24.0% 16.1%
Operating profit (loss):
U.S. Domestic Package 364 1,182 1,098 1,247 3,891 (45.3)% (2.2)% (9.7)% 16.1 % (6.6)%
International Package 551 771 966 1,148 3,436 4.4% 16.3% 44.8% 43.7 % 29.3 %
Supply Chain & Freight 157 259 299 (358) 357 (21.5)% (4.8)% 22.0% (237.7)% (63.5)%
Total operating profit 1,072 2,212 2,363 2,037 7,684 (23.1)% 3.2% 11.0% (4.5)% (1.5)%
Other income (expense):
Other pension income (expense) 327 327 327 (6,157) (5,176) 71.2% 70.3% 71.2% 180.4% 219.1%
Investment income and other 18 1 11 7 37 (25.0)% (96.4)% (76.1)% (77.4)% (71.3)%
Interest expense (167) (183) (176) (175) (701) (1.2)% 15.1% 10.7% 5.4% 7.4%
Total other income (expense) 178 145 162 (6,325) (5,840) 287.0% 137.7% 107.7% 171.3% 172.1%
Income (loss) before income taxes 1,250 2,357 2,525 (4,288) 1,844 (13.2)% 6.9% 14.5% N/M (67.4)%
Income tax expense (benefit) 285 589 568 (941) 501 (13.4)% 13.5% 24.6% N/M (58.7)%
Net income (loss) $ 965 $ 1,768 $ 1,957 $ (3,347) $ 1,343 (13.1)% 4.9% 11.8% N/M (69.8)%
Per share amounts:
Basic earnings (loss) per share $ 1.12 $ 2.04 $ 2.25 $ (3.84) $ 1.55 (12.5)% 4.6% 10.8% N/M (69.8)%
Diluted earnings (loss) per share $ 1.11 $ 2.03 $ 2.24 $ (3.84) $ 1.54 (13.3)% 4.6% 11.4% N/M (69.9)%
Dividends declared per share $ 1.01 $ 1.01 $ 1.01 $ 1.01 $ 4.04 5.2% 5.2% 5.2% 5.2% 5.2%
Weighted-Average Shares Outstanding:
Basic 864 866 868 871 867 -0.2% 0.1% 0.5% 0.9% 0.3%
Diluted 869 869 872 871 871 0.0% 0.0% 0.2% 0.9% 0.2%
As-Adjusted Income Data:
Operating profit: (1)
U.S. Domestic Package $ 401 $ 1,215 $ 1,133 $ 1,379 $ 4,128 (42.2)% (0.9)% (8.8)% 14.3% (5.5)%
International Package $ 558 $ 842 $ 972 $ 1,160 $ 3,532 (8.8)% 26.6% 40.3% 43.4% 27.1%
Supply Chain & Freight $ 158 $ 267 $ 302 $ 331 $ 1,058 (25.1)% (2.2)% 18.0% 26.3% 5.6%
Total operating profit $ 1,117 $ 2,324 $ 2,407 $ 2,870 $ 8,718 (26.4)% 7.4% 9.9% 26.0% 7.0%
Total other income (expense) (2) $ 178 $ 145 $ 162 $ 159 $ 644 287.0% 137.7% 107.7% 183.9% 167.2%
Income before income taxes (1) (2) $ 1,295 $ 2,469 $ 2,569 $ 3,029 $ 9,362 (17.1)% 11.0% 13.2% 29.8% 11.6%
Net income (3) $ 1,000 $ 1,851 $ 1,990 $ 2,325 $ 7,166 (16.9)% 8.8% 10.7% 26.4% 9.5%
Basic earnings per share (3) $ 1.16 $ 2.14 $ 2.29 $ 2.67 $ 8.27 (16.5)% 8.6% 10.1% 25.4% 9.2%
Diluted earnings per share (3) $ 1.15 $ 2.13 $ 2.28 $ 2.66 $ 8.23 (17.3)% 8.7% 10.1% 26.1% 9.3%
(1) 2020 operating profit and consolidated income before income taxes exclude the impact of $1,034 million of transformation & other that reflects goodwill and other asset impairment charges of $686 million related to the planned divestiture of UPS Freight, other employee benefits costs of $211 million and other costs of $137 million. These costs are allocated between the U.S. Domestic Package segment ($237 million), International Package segment ($96 million) and Supply Chain & Freight segment ($701 million).
(2) 2020 total other income (expense) and consolidated income before income taxes exclude the impact of an increase in pension expense due to a mark-to-market loss recognized outside of a 10% corridor of $6.5 billion.
(3) 2020 net income and earnings per share amounts exclude the after-tax impact of the adjustments described in (1) and (2), which decreased net income by $5.8 billion. Fourth quarter 2020 diluted earnings per share is based on weighted-average shares outstanding of 875 million, which includes the effect of 4 million dilutive shares and share equivalents.

&"Arial,Bold"United Parcel Service, Inc. Selected Financial Data - Quarterly 2020 (unaudited)

&"Arial,Italic"&9Certain prior year amounts have been reclassified to conform to the current year presentation. &"Arial,Regular"&9Page &P of &N

Qtrly Oper 2021
Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021
Revenue (in millions):
U.S. Domestic Package:
Next Day Air $ 2,331 $ 2,456 $ 4,787 13.4 % 23.8 % 18.5 %
Deferred 1,260 1,313 2,573 5.3 % 1.2 % 3.1 %
Ground 10,419 10,633 21,052 27.0 % 8.6 % 17.0 %
Total U.S. Domestic Package 14,010 14,402 28,412 22.3 % 10.2 % 15.8 %
International Package:
Domestic 928 936 1,864 34.9 % 30.2 % 32.5 %
Export 3,493 3,674 7,167 36.4 % 30.1 % 33.1 %
Cargo and Other 186 207 393 38.8 % 27.8 % 32.8 %
Total International Package 4,607 4,817 9,424 36.2 % 30.0 % 33.0 %
Supply Chain Solutions(1):
Forwarding 2,072 2,309 4,381 50.9 % 30.4 % 39.3 %
Logistics 1,104 1,162 2,266 30.7 % 18.9 % 24.4 %
Freight 767 297 1,064 0.1 % (59.0)% (28.6)%
Other 348 437 785 64.2 % 110.1 % 86.9 %
Total Supply Chain Solutions(1) 4,291 4,205 8,496 34.3 % 14.3 % 23.6 %
Consolidated $ 22,908 $ 23,424 $ 46,332 27.0 % 14.5 % 20.4 %
Consolidated volume (in millions) 1,521 1,551 3,072 12.5 % (0.8)% 5.3 %
Operating weekdays 63 64 127 (1.6)% -% (0.8)%
Average Daily Package Volume (in thousands):
U.S. Domestic Package:
Next Day Air 2,012 2,071 2,041 6.9 % 11.0 % 8.9 %
Deferred 1,513 1,581 1,548 1.4 % (7.1)% (3.1)%
Ground 16,827 16,856 16,842 14.7 % (4.0)% 4.5 %
Total U.S. Domestic Package 20,352 20,508 20,431 12.8 % (2.9)% 4.3 %
International Package:
Domestic 2,010 1,967 1,988 20.5 % 11.5 % 15.9 %
Export 1,783 1,761 1,772 26.2 % 14.0 % 19.8 %
Total International Package 3,793 3,728 3,760 23.1 % 12.7 % 17.7 %
Consolidated 24,145 24,236 24,191 14.3 % (0.8)% 6.2 %
Average Revenue Per Piece:
U.S. Domestic Package:
Next Day Air $ 18.39 $ 18.53 $ 18.47 7.9 % 11.5 % 9.7 %
Deferred 13.22 12.98 13.09 5.4 % 8.9 % 7.2 %
Ground 9.83 9.86 9.84 12.5 % 13.2 % 12.8 %
Total U.S. Domestic Package 10.93 10.97 10.95 10.2 % 13.4 % 11.8 %
International Package:
Domestic 7.33 7.44 7.38 13.8 % 16.8 % 15.1 %
Export 31.10 32.60 31.85 9.8 % 14.1 % 12.0 %
Total International Package 18.50 19.32 18.91 12.3 % 15.5 % 13.8 %
Consolidated $ 12.12 $ 12.26 $ 12.19 11.4 % 15.3 % 13.5 %
Note: Operating weekdays by quarter for 2022 and 2023 are as follows:
Q1 2022 Q2 2022 Q3 2022 Q4 2022 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 2023
64 64 64 63 255 64 64 63 63 254
(1) The divestiture of UPS Freight was completed on April 30, 2021.

&"Arial,Bold"United Parcel Service, Inc. Selected Operating Data - Quarterly 2021 (unaudited)

&"Arial,Italic"&9Certain prior year amounts have been reclassified to conform to the current year presentation. &"Arial,Regular"&9Page &P of &N

Qtrly Oper 2020
Q1 2020 Q2 2020 Q3 2020 Q4 2020 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2020 2020
Revenue (in millions):
U.S. Domestic Package:
Next Day Air $ 2,055 $ 1,984 $ 2,098 $ 2,385 $ 8,522 11.6% (8.7)% (2.2)% 2.8% 0.5%
Deferred 1,197 1,298 1,378 1,792 5,665 9.9% 12.2% 10.4% 6.3% 9.4%
Ground 8,204 9,792 9,749 11,567 39,312 8.7% 25.2% 20.9% 23.0% 19.7%
Total U.S. Domestic Package 11,456 13,074 13,225 15,744 53,499 9.3% 17.3% 15.5% 17.4% 15.1%
International Package:
Domestic 688 719 776 977 3,160 (0.3)% 4.2% 12.6% 27.4% 11.4%
Export 2,561 2,824 3,153 3,621 12,159 (2.7)% 5.8% 18.0% 26.4% 12.2%
Cargo and Other 134 162 158 172 626 (2.9)% 10.2% 19.7% 32.3% 14.4%
Total International Package 3,383 3,705 4,087 4,770 15,945 (2.2)% 5.7% 17.0% 26.8% 12.1%
Supply Chain & Freight:
Forwarding 1,373 1,771 1,753 2,078 6,975 (3.0)% 18.4% 19.1% 40.1% 18.9%
Logistics 845 977 1,040 1,211 4,073 1.6% 17.3% 22.9% 31.1% 18.6%
Freight 766 724 870 789 3,149 (0.9)% (15.9)% 2.1% 1.3% (3.6)%
Other 212 208 263 304 987 6.0% 2.5% 32.2% 43.4% 21.3%
Total Supply Chain & Freight 3,196 3,680 3,926 4,382 15,184 (0.8)% 8.5% 16.5% 29.0% 13.5%
Consolidated $ 18,035 $ 20,459 $ 21,238 $ 24,896 $ 84,628 5.1% 13.4% 15.9% 21.0% 14.2%
Consolidated volume (in millions) 1,352 1,564 1,550 1,826 6,292 8.5% 20.9% 15.2% 10.6% 13.7%
Operating weekdays 64 64 65 62 255 1.6% 0.0% 1.6% 0.0% 0.8%
Average Daily Package Volume (in thousands):
U.S. Domestic Package:
Next Day Air 1,883 1,865 1,915 2,295 1,987 20.5% 0.5% 1.3% 1.9% 5.2%
Deferred 1,492 1,702 1,657 2,299 1,783 7.8% 23.3% 12.4% 1.4% 9.9%
Ground 14,669 17,560 16,803 20,561 17,371 7.2% 25.7% 15.5% 10.6% 14.5%
Total U.S. Domestic Package 18,044 21,127 20,375 25,155 21,141 8.5% 22.8% 13.8% 8.9% 13.1%
International Package:
Domestic 1,668 1,764 1,806 2,227 1,863 (1.2)% 8.5% 8.3% 16.9% 8.3%
Export 1,413 1,545 1,674 2,068 1,672 (2.6)% 11.4% 16.5% 27.8% 13.6%
Total International Package 3,081 3,309 3,480 4,295 3,535 (1.8)% 9.8% 12.1% 21.9% 10.7%
Consolidated 21,125 24,436 23,855 29,450 24,676 6.9% 20.9% 13.5% 10.6% 12.8%
Average Revenue Per Piece:
U.S. Domestic Package:
Next Day Air $ 17.05 $ 16.62 $ 16.85 $ 16.76 $ 16.82 (8.8)% (9.2)% (5.0)% 0.9% (5.2)%
Deferred 12.54 11.92 12.79 12.57 12.46 0.4% (9.0)% (3.3)% 4.8% (1.3)%
Ground 8.74 8.71 8.93 9.07 8.87 (0.2)% (0.5)% 3.1% 11.2% 3.7%
Total U.S. Domestic Package 9.92 9.67 9.99 10.09 9.92 (0.8)% (4.4)% 0.0% 7.8% 0.9%
International Package:
Domestic 6.44 6.37 6.61 7.08 6.65 (0.8)% (3.9)% 2.5% 9.1% 2.2%
Export 28.32 28.56 28.98 28.24 28.52 (1.6)% (5.0)% (0.3)% (1.1)% (2.0)%
Total International Package 16.48 16.73 17.37 17.27 16.99 (1.8)% (3.9)% 2.7% 3.8% 0.4%
Consolidated $ 10.88 $ 10.63 $ 11.06 $ 11.14 $ 10.94 (1.8)% (5.2)% 0.4% 7.9% 0.6%

&"Arial,Bold"United Parcel Service, Inc. Selected Operating Data - Quarterly 2020 (unaudited)

&"Arial,Italic"&9Certain prior year amounts have been reclassified to conform to the current year presentation. &"Arial,Regular"&9Page &P of &N

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UPS - United Parcel Service Inc. published this content on 27 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2021 10:39:03 UTC.