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UPS Inc. reported stronger profits in the fourth quarter than a year ago, even after adjustments tied to pension contributions and the Tax Cuts and Jobs Act, led by double-digit growth in the freight and third-party logistics businesses and a strong holiday season.
The Atlanta-based parcel giant made $1.1 billion in profits in the fourth quarter compared with a $239 million loss one year ago. On a per-share basis, profits grew to $1.27 versus a 27-cent loss in 2016.
UPS recorded a $800 million mark-to-market pension adjustment or 70 cents per share to reflect the present value of the contributions to the multiemployer pension plans. It also recorded a $258 million one-time benefit related to the tax law.
RELATED: UPS seeks driver ‘flexibility’ in contract talks with teamsters
UPS Ends 2017 With Strong Results
The Atlanta-based parcel giant made $1.1 billion in profits in the fourth quarter compared with a $239 million loss one year ago. On a per-share basis, profits grew to $1.27 versus a 27-cent loss in 2016.
UPS recorded a $800 million mark-to-market pension adjustment or 70 cents per share to reflect the present value of the contributions to the multiemployer pension plans. It also recorded a $258 million one-time benefit related to the tax law.
RELATED: UPS seeks driver ‘flexibility’ in contract talks with teamsters
UPS Ends 2017 With Strong Results
