LAXintl From United States of America, joined May 2000, 26686 posts, RR: 50 Posted (6 years 8 months 1 week 5 days 4 hours ago) and read 2604 times:
Nice headline number, however disappointing for many as the carrier had $1bil+ in earnings for the same quarter in 2007.
UPS cautioned about high energy cost and a weakening US economy.
Quote: UPS reports 2Q profit decline, lowers outlook
Tuesday July 22
UPS says profit fell nearly 21 percent in second quarter, lowers outlook for year
ATLANTA (AP) -- UPS Inc., the world's largest shipping carrier, said Tuesday its profit fell nearly 21 percent in the second quarter despite a more than 6 percent increase in sales. The company also lowered its outlook for the year amid a slumping U.S. economy.
UPS, hit by an average daily volume decline in the U.S. and soaring fuel costs, said its profit was $873 million, or 85 cents a share, in the second quarter, compared to a profit of $1.10 billion, or $1.04 a share, for the same period a year ago. Revenue grew to $13 billion from $12.2 billion.
"We're feeling the impact of higher energy costs throughout the company," Chief Executive Scott Davis told analysts during a conference call.
UPS' international business, usually a bright spot for the company, also suffered in the second quarter. Chief Financial Officer Kurt Kuehn said import volume into the U.S. declined in the quarter. The company has seen slower growth in premium services in the major regions of the world.
413X3 From United States of America, joined Jul 2008, 1983 posts, RR: 0
Reply 1, posted (6 years 8 months 1 week 5 days 2 hours ago) and read 2530 times:
I am sure when DHL moves their flying over to UPS it will help their bottom line. And with the 744Fs coming online. Even a slower economy seems like a small speed bump for them. Funny how times change. UPS and FDX seem like the strongest American airlines especially with world markets becoming more and more integrated and relying on freight
Tozairport From United States of America, joined Oct 2005, 687 posts, RR: 1
Reply 6, posted (6 years 8 months 1 week 4 days 15 hours ago) and read 2285 times:
Quoting FlyMIA (Reply 4): This is obviously one of the reasons pilots want to fly for UPS. They actually make decent living
No joke. I buddy of mine (4 year MD 11 F/O) is making more than me (12+ year A320 CAP) and he can go pee without permission! Everything is askew. Then again, it's a lot easier to spread a fuel surcharge among 1000's of boxes who don't complain versus 100's of pax that do. JMHO.
GEG2RAP From United States of America, joined Sep 2003, 854 posts, RR: 0
Reply 9, posted (6 years 8 months 1 week 3 days 20 hours ago) and read 2132 times:
plus, I might add IMHO, UPS was a great company to work for. I had amazing health care, more than half of my tutition paid for, and all of my student loans paid for while working (hard) for 20 hours per week.