United Parcel Service, Inc. Reports Unaudited Consolidated Earnings and Operating Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the Year 2017
January 31, 2017 at 06:15 pm IST
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United Parcel Service, Inc. reported unaudited consolidated earnings and operating results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported total revenue of $16,931 million compared with $16,054 million for the same period last year. Total operating loss was $428 million compared with operating profit of $2,051 million for the same period last year. Loss before income taxes was $516 million compared with $1,969 million for the same period last year. Net loss was $239 million or $0.27 diluted per share compared with net income of $1,331 million or $1.48 diluted per share for the same period last year. As adjusted basis, total operating profit was $2,223 million compared with $2,169 million for the same period last year. Income before income taxes was $2,135 million compared with $2,087 million for the same period last year. Net income was $1,434 million or $1.63 diluted per share compared with $1,410 million or $1.57 diluted per share for the same period last year.
For the twelve months, the company reported total revenue of $60,906 million compared with $58,363 million for the same period last year. Total operating profit was $5,467 million compared with $7,668 million for the same period last year. Income before income taxes was $5,136 million compared with $7,342 million for the same period last year. Net income was $3,431 million or $3.87 diluted per share compared with $4,844 million or $5.35 diluted per share for the same period last year. As adjusted basis, total operating profit was $8,118 million compared with $7,786 million for the same period last year. Income before income taxes was $7,787 million compared with $7,460 million for the same period last year. Net income was $5,104 million or $5.75 diluted per share compared with $4,923 million or $5.43 diluted per share for the same period last year. Cash flow from operation was $6,473 million and capital expenditures were $2,965 million.
For the quarter, the company's average daily package volume was 22,744,000 against 21,589,000 a year ago.
For the year, the company's average daily package volume was 19,090,000 against 18,324,000 a year ago.
For the year 2017, the company expects diluted earnings per share of $5.80 to $6.10, which includes $400 million of pre-tax currency headwinds. Further, the currency drag lowers the adjusted diluted EPS by $0.30 in 2017, and decreases the EPS growth rates by approximately 500 basis points.
United Parcel Service, Inc. is the worldwide leader in package transportation. The group also offers logistical services. Net sales break down by activity as follows:
- express delivery and transportation in the United States (64%): transportation of letters and documents, small package delivery, etc.;
- express delivery and transportation (19.6%);
- logistical and transportation services (16.4%).
At the end of 2022, United Parcel Service, Inc. operated a fleet of 586 aircraft and approximately 125,000 vehicles (cars, vans, tractor-trailers, etc.).
77.8% of net sales are generated in the United States.
United Parcel Service, Inc. Reports Unaudited Consolidated Earnings and Operating Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the Year 2017