ATLANTA - UPS (NYSE:UPS) today announced second-quarter diluted earnings per share growth of 8.2%, to $1.71, and adjusted diluted earnings per share growth of 23%, to $1.94.
Second-quarter 2018 adjusted results exclude a pre-tax charge of $263 million, or $0.23 per share after-tax, due to transformation costs primarily related to the Voluntary Retirement Plan (VRP).
Consolidated Results |
2Q 2018 |
Adjusted 2Q 2018 |
2Q 2017 |
| Revenue | $17,456 M | $15,927 M | |
| Net Income | $1,485 M | $1,685 M | $1,384 M |
| Diluted earnings per share | 1.71 | 1.94 | 1.58 |
| EPS Growth | 8.20% | 23.00% |
“UPS is making great progress on our transformation initiatives to enhance profitable growth and improve operating leverage,” said David Abney, UPS Chairman and CEO. “We are confident that our strategies will position the company to provide improved value for customers and shareowners.”
For the total company in 2Q 2018:
- Consolidated revenue increased 9.6% to $17.5 billion, on growth across all segments.
- Average yield increased 4.6%, led by International and U.S. Deferred Air products.
- Net income increased 7.3% and adjusted net income was 22% higher than 2Q17.
- Year-to-date cash from operations was $7.2 billion.
- Free Cash Flow surged to $4.4 billion in the first half of the year, driven primarily by transformation initiatives that improved working capital.
- Year-to-date dividends per share increased by 10% to $1.6 billion and share repurchases were $511 million.
- The company has made capital expenditures of $2.8 billion in the first half of 2018.
