Report
Keith Schoonmaker, CFA
EUR 101.80 For Business Accounts Only

Wait, Growth Doesn’t Come for Free? UPS Costs and Capital Expenditure Increase With Volume

Well, Amazon hasn't eaten UPS’ lunch yet, as the media seems to persistently fear. In packages, the firm increased volume and revenue per piece at strong rates during the fourth quarter. UPS increased U.S. average daily ground packages 5.7% year over year and increased ground revenue per piece 3.4%, while international expanded average packages 8.3% and increased revenue per piece 4.2%. Supply chain and freight increased sales a sharp 21%, and total revenue increased a strong 11.2% to $18.8 bill...
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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