Revenue increased 8.5%, driven by elevated air freight forwarding demand out of. Such statements may relate to our intent, belief and current expectations about our strategic direction, prospects and future results, and give our current expectations or forecasts of future events; they do not relate strictly to historical or current facts. This release, our Annual Report on Form 10-K for the year ended December 31, 2019 and our other filings with the Securities and Exchange Commission contain and refer to “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The transportation company reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $1.86 by $0.42. The difference between this derived amount and the current period reported service cost is the period over period impact of pension discount rate movements on operating profit. July 30, 2020 8:30 AM ET. UPS (UPS) delivered earnings and revenue surprises of 104.81% and 17.96%, respectively, for the quarter ended June 2020. Atlanta-based UPS said net income rose 4.7% to $1.77 billion in the quarter ended June 30. IQVIA's (IQV) second-quarter 2020 revenues and earnings decrease year over year. Email Print Friendly Share. 78.5 KB. Costs Related to Restructuring Programs; Transformation Strategy Costs. Q2 2020 United Parcel Service, Inc. Earnings Conference Call. Got a confidential news tip? Earnings however declined 35.3% from the year-ago period. United Parcel Service (UPS) reports earnings on 1/27/2021. The derived amounts are then multiplied by the average foreign exchange rates used to translate the comparable results for each month in the prior year period (including the period over period impact of foreign currency hedging activities). April 28, 2020 … Non-GAAP financial measures should be considered in addition to, and not as an alternative for, our reported results prepared in accordance with GAAP. Effective January 1, 2020, we began evaluating our segments using pension discount rate-neutral operating profit in addition to our current segment operating profit measure. Reconciliation of Non-GAAP Pension Discount Rate Neutral Operating Profit and Margin(in millions): (2) Amounts adjusted for transformation strategy cost and period over period impact of discount rates on pension service cost, (2) Amounts adjusted for transformation strategy costs and period over period impact of discount rates on pension service cost. J&J (JNJ) Beats on Q2 Earnings & Sales, Ups 2020 Guidance. Non-GAAP operating profit, operating margin, pre-tax income, net income and earnings per share exclude the impact of costs related to restructuring programs, including Transformation strategy costs.  We believe this provides a useful comparison of year-to-year financial performance without considering the short-term impact of restructuring costs. UPS Releases 2Q 2020 Earnings. Operating margin was 9.0%; adjusted operating margin was 9.3%. 70.5 KB. ET, July 30, 2020.  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.” Additional financial information is included in the detailed financial schedules being posted on www.investors.ups.com under “Financials” and as filed with the SEC as an exhibit to our Current Report on Form 8-K. UPS (NYSE: UPS) is a global leader in logistics, offering a broad range of solutions including transporting packages and freight; facilitating international trade, and deploying advanced technology to more efficiently manage the world of business. UPS Releases 2Q 2020 Earnings. UPS Releases 2Q 2020 Earnings ATLANTA , July 30, 2020 (GLOBE NEWSWIRE) -- Consolidated Average Daily Volume Surged to Record 20.9% Growth 2Q20 Diluted EPS of $2.03 , Up 4.6%; Adjusted* Diluted EPS up 8.7% to $2.13 YTD Cash from Operations of $5.9B ; Adjusted Free Cash Flow of $3.9B UPS … United Parcel Service last announced its quarterly earnings data on October 28th, 2020. 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. ATLANTA, July 30, 2020 (GLOBE NEWSWIRE) --, UPS (NYSE:UPS) today announced second-quarter 2020 consolidated revenue increased to $20.5 billion, a 13.4% increase from the second quarter of 2019.  Net income was $1.8 billion for the quarter; adjusted net income was $1.9 billion, 8.8% above the same period in 2019. Â, Diluted earnings per share was $2.03 and adjusted diluted earnings per share was $2.13, up 8.7% from the same period last year.  GAAP results included a pre-tax transformation charge of $112 million, equivalent to $0.10 per share.  In the prior year period, GAAP results included a pre-tax charge for transformation costs of $21 million, equivalent to $0.02 per share.Â, “Our results were better than we expected, driven in part by the changes in demand that emerged from the pandemic, including a surge in residential volume, COVID-19 related healthcare shipments and strong outbound demand from Asia,” said Carol Tomé, UPS chief executive officer.  “UPSers are keeping the world moving during this time of need and I want to thank our team for their hard work and outstanding efforts to serve our customers, our communities and each other.”. UPS Investor Relations: 404-828-6059 (option 2) or investor@ups.com. 31 • 2 Comments United Parcel Service's (UPS) CEO Carol Tomé on Q2 2020 Results - Earnings Call Transcript United Parcel Service, Inc. (NYSE:UPS) Q2 2020 Earnings Call Summary. Learn more about our sustainability efforts at ups.com/sustainability. Carol Tomé – Chief Executive Officer So it stepped down from Q2 to Q3 by about 50%. Therefore, our non-GAAP financial information may not be comparable to similarly titled measures reported by other companies. Before I begin, I would like to thank David Abney, who after 46 years of service to UPS passed the baton to me on June 1. United Parcel Service UPS is scheduled to report third-quarter 2020 earnings on Oct 28, before market open. United Parcel Service, Inc. 2020 Q2 - Results - Earnings Call Presentation Fri, Jul. The following slide deck was published by United Parcel Service, Inc. in conjunction with their 2020 Q2 earnings call.. The Earnings Whisper Score gives the statistical odds for the stock ahead of earnings. However, caution should be taken not to place undue reliance on any forward-looking statements because such statements speak only as of the date when made. Carol Tomé “…I’m honored to be hosting my first UPS earnings call. Johnson & Johnson JNJ second-quarter 2020 earnings came in at $1.67 per share, which beat the Zacks Consensus Estimate of $1.50. UPS Releases 2Q 2020 Earnings. We also 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.  Additionally, we periodically disclose free cash flow, free cash flow excluding discretionary pension contributions, and capital expenditures including principal repayments of capital lease obligations. US 07/30/20. Zacks Equity Research. Back to UPS Overview *The upcoming earnings date is derived from an algorithm based on a company's historical reporting dates.  Operating profit was $2.2 billion, and adjusted operating profit was $2.3 billion, up 7.4% compared to last year’s second quarter. Read full article. Historical Financials. "Our results were better than we expected, driven in part by the changes in demand that emerged from the pandemic," said UPS Chief Executive Carol Tomé. The third quarter of 2020 was a record one for international operating profit, which rose 40% compared to the same period last year. Shares are up 5.7% since reporting last quarter. Atlanta-based UPS said net income rose 4.7% to $1.77 billion in the quarter ended June 30. Financials 70.5 KB. Average daily volume grew 9.8%, driven by strong outbound demand from. All Rights Reserved. Free Cash Flow and Adjusted Capital Expenditures, We believe free cash flow, free cash flow excluding discretionary pension contributions and free cash flow adjusted for principal repayments of finance 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. 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. The bottom line also declined 17.3% year over year. Pension discount rate-neutral operating profit is calculated by discounting the value of benefits attributable to employee service in the current period utilizing the prior year discount rate applicable to each of our company-sponsored defined benefit plans. Non-GAAP pension discount rate-neutral operating profit excludes the period over period impact of discount rate changes on pension service cost. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. Q2 2020 United Parcel Service, Inc. Earnings Conference Call. Historical Financials 78.5 KB. Revenue rose 13.4% to $20.46 billion, beating estimates of $17.48 billion, according to IBES data from Refinitiv. Believes that these forward-looking statements are reasonable as and when made we serve around the world delayed least... Carol Tomé – Chief Executive Officer J & J ( JNJ ) Beats on Q2 earnings on. Volume increased 22.8 %, the company earned $ 21.24 billion during the period. committed to operating more sustainably for... Its quarterly earnings data on October 28th, 2020 06:00 ET | Source: UPS ) Q3 2020 on! Residential delivery surged in the quarter ended June 30 on Oct 28, before market open Tomé CFO. 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