UPS Delivers Record Quarterly Operating Income Amid Sharp Domestic Volume Climb, Maintain FVE
UPS grew its second-quarter top line 3.4% and improved normalized operating profit 6.3%, in part by deftly handling a steep 30% bump in next day air express package volume. Indeed, UPS just produced the greatest reported operating income of any quarter we see in our model, which runs back to 2003. Management affirmed its prior 2019 normalized EPS guidance of $7.45--$7.75, and we maintain our fair value estimate and wide moat rating on UPS. However, we note that domestic margins fared better than...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.
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.
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