God lönsamhet för affärsområdena International och Supply-chain trots svårt ekonomiskt läge
STOCKHOLM, 28 okt. 2008 - UPS (NYSE: UPS) meddelar en utspädd vinst per aktie på 0,96 dollar för sitt tredje kvartal på en intäktsökning med 7,4 %. Det motsvarar en sänkning på 8,6 % jämfört med de 1,05 dollar per aktie som redovisades på justerat underlag för samma kvartal 2007. Företagets internationella verksamheter och supply-chainverksamheter är starka trots det svåra ekonomiska läget globalt.
Ojusterad utspädd vinst per aktie på $1,02 för det tredje kvartalet 2007 omfattade en omstrukturering och tillhörande kostnader för en supply-chain-verksamhet i Frankrike. Utspädd vinst per aktie för årets tredje kvartal minskade med 5,9 % jämfört med den summan.
"UPS har framgångsrikt hanterat verksamheten i det här tuffa ekonomiska klimatet, sade Scott Davis, UPS styrelseordförande och VD. Vi ser fortsatt tillväxt i våra internationella verksamheter och supply-chain-verksamheter, samtidigt som vi håller fortsatt fokus på kostnadskontroll och intäktsreglering i hela organisationen. UPS gör också investeringar för att säkra den framtida tillväxten så att företaget ska vara ännu starkare när den globala ekonomin återhämtar sig."
| |
|
|
3Q 2007 |
| Consolidated Results |
3Q 2008 |
3Q 2007 |
Adjusted |
| Revenue |
$13.11 B |
$12.21 B |
|
| Operating profit |
$1.63 B |
$1.71 B |
$1.75 B |
| Operating margin |
12.4% |
14.0% |
14.4% |
| Average volume per day |
14.85 M |
15.25 M |
|
| Diluted earnings per share |
$0.96 |
$1.02 |
$1.05 |
For the three months ended Sept. 30, 2008, consolidated revenue per piece increased 8.1% while package volume per day declined 2.6%. Operating profit declined 7% to $1.63 billion compared to adjusted operating profit last year. The decline was 4.4% on an unadjusted basis. Operating results were positively impacted by productivity gains and benefits from the two-month lag in fuel surcharges. These impacts were more than offset by economic deceleration and the high cost of fuel, which drove product mix changes.
Cash Position
For the first nine months of 2008, free cash flow remained strong at $4.6 billion, including $1 billion in U.S. federal tax refunds related to the company's withdrawal from the Central States Pension Plan. The company:
- Repurchased 48.5 million shares at a cost of $3.3 billion.
- Paid $1.8 billion in dividends.
- Invested $2.1 billion in capital expenditures.
- Ended the quarter with $1.8 billion in cash and short-term investments.
UPS experienced ample liquidity in the commercial paper market at very favorable rates.
| U.S. Domestic Package |
3Q 2008 |
3Q 2007 |
| Revenue |
$7.84 B |
$7.55 B |
| Operating profit |
$1.12 B |
$1.23 B |
| Operating margin |
14.2% |
16.3% |
| Average volume per day |
12.9 M |
13.4 M |
Average daily U.S. domestic volume declined 3.4%, reflecting on-going weakness in the U.S. economy. Air products posted declines of 6.4% and ground volume decreased 2.8%. Domestic revenue per piece increased 5.8%, led by UPS Next Day Air® rising 11% as a result of higher fuel surcharges and continued focus on revenue management. Third quarter results were positively impacted by about $90 million due to the two-month lag in fuel surcharges.
During the quarter, UPS expanded its customer service options for air package pick-up, enabling later pick-ups for urgent business needs for about one-quarter of all U.S. businesses.
| International Package |
3Q 2008 |
3Q 2007 |
| Revenue |
$2.95 B |
$2.53 B |
| Operating profit |
$386 M |
$428 M |
| Operating margin |
13.1% |
16.9% |
| Average volume per day |
1.90 M |
1.84 M |
Export volume per day increased 7%, outpacing the market, despite decelerating economic growth in most areas of the world. The company's broad global network and unique products, such as UPS Paperlesssm Invoice and international UPS Returns®, helped drive this gain. All major regions of the world posted solid volume increases although U.S. imports continued to decline. Revenue per piece was up 11.6%, aided by higher fuel surcharges and favorable foreign currency exchange rates.
UPS completed a highly successful logistics effort for the Olympic Games in China as the company "delivered" the games to the world.
Investment in global infrastructure expansion also continued. In the fourth quarter, UPS will open its new hub in Shanghai. This is the first hub constructed by a U.S. carrier in China and will link all of China via Shanghai to UPS's international network with direct service to the Americas, Europe and Asia.
| |
|
|
3Q 2007 |
| Supply Chain and Freight |
3Q 2008 |
3Q 2007 |
Adjusted |
| Revenue |
$2.32 B |
$2.13 B |
|
| Operating profit |
$129 M |
$52 M |
$98 M |
| Operating margin |
5.6% |
2.4% |
4.6% |
All units in this segment contributed to revenue growth of 9%. Operating profit improved more than 30% on 2007 adjusted results; on unadjusted results, the improvement more than doubled.
The Forwarding and Logistics operations again demonstrated the momentum seen in the first half of the year. Customers have responded well to the enhanced air freight portfolio that UPS unveiled in January.
UPS Freight Less-Than-Truckload performance was negatively impacted by the slowing U.S. economy. Nonetheless, the company is investing in this business to enhance its value proposition. UPS Freight recently announced time-in-transit improvements on more than 3,000 U.S. lanes. Over the past 18 months, UPS Freight has accelerated transit times on more than 12,000 lanes.
Outlook
"We've taken steps to effectively manage our costs and enhance service levels in an environment that proved substantially worse than we initially anticipated, with significant slowing toward the end of the quarter," said Kurt Kuehn, UPS's chief financial officer.
"Our focus on service, revenue management, cost reduction and our sound financial position will help us manage through these tough business conditions," Kuehn continued. "We've implemented a range of initiatives to ensure our network operation matches demand."
The CFO also noted UPS reduced its 2008 capital expenditure budget by $200 million to $2.8 billion and expects to reduce 2009 capital expenditures as well.
"Based on economic forecasts, we anticipate a challenging environment for a number of quarters going forward," he added. "We believe the U.S. consumer will be very conservative with spending this year. But we still expect 2008 earnings per share should be toward the lower end of the $3.50-to-$3.70 range that we provided mid-year."
UPS is the world's largest package delivery company and a global leader in supply chain services, offering an extensive range of options for synchronizing the movement of goods, information and funds. Headquartered in Atlanta, Ga., UPS serves more than 200 countries and territories worldwide. UPS's stock trades on the New York Stock Exchange (UPS) and the company can be found on the Web at UPS.com. To get UPS news direct, visit pressroom.ups.com/RSS.
# # #
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 directions, prospects and future results, involve certain risks and uncertainties. Certain factors may cause actual results to differ materially from those contained in the forward-looking statements, including economic and other conditions in the markets in which we operate, governmental regulations, our competitive environment, strikes, work stoppages and slowdowns, increases 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.
|
|
 |
UPS-pressrum |
|
|
Läs pressreleaser, meddelanden och annan medierelaterad information om UPS.
|
|
 |
|
Sammanfattning av konto