UPS posts good Q4 revenues

United Parcel Service (UPS) has announced its Q4 2016 results. One of the highlights includes an 8.4% jump in international export shipments.

In a statement, David Abney, UPS chairman and CEO, said: “Revenue and volume growth accelerated for UPS during the holiday season and we provided high service levels for our customers.

“The International segment delivered another extraordinary performance, while the U.S. managed through considerable changes in product mix.  Our strategies and initiatives are creating long-term value for both UPS customers and shareowners.”

Revenue for the quarter was $16.931bn, a significant increase from $16.054bn.

The group made a loss of $428m in the quarter, compared to a $2.051bn profit in Q4 2015. However, UPS explained: “Full-year and fourth-quarter 2016 results include a non-cash, after-tax, mark-to-market pension charge of $1.90 per diluted share.  In the prior-year period, the company reported non-cash, after-tax charges of $0.09 per diluted share related to pension mark-to-market charges.” When adjusted to exclude these charges, UPS made a profit of $2.223bn in Q4 2016 – which was better than last year’s final quarter.

 
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