Report
Keith Schoonmaker, CFA
EUR 101.80 For Business Accounts Only

UPS' extensive shipping network produces industry-leading margins and ROICs.

UPS reports encouraging volume growth in many regions, and grew revenue in all three operating segments, but faced profitability challenges in fuel surcharge lag, currency, facility startups, and severe U.S. weather. Still, operating results don’t differ too much from our current assumptions. We will increase our fair value estimate by less than 10% due to the time value of money since our last update and an expected tax rate lower than our previous projection, driven by our coverage-wide assump...
Underlying
United Parcel Service Inc. Class B

United Parcel Service provides transportation services, primarily domestic and international letter and package delivery. The company reports its operations in three segments: United States Domestic Package, which includes the time-definite delivery of letters, documents and packages throughout the United States; International Package, which includes delivery to several countries and territories worldwide, including shipments wholly outside the United States, as well as shipments with either origin or destination outside the United States; and Supply Chain & Freight, which includes the company's Forwarding, Logistics, Coyote, Marken, UPS Mail Innovations, UPS Freight and other aggregated business units.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Keith Schoonmaker, CFA

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