United Parcel - UPS STOCK NEWS

UPS announced enhancements to its Healthcare services, enabling production of up to 1,200 lbs. of dry ice per hour in the U.S. and Canada to support COVID-19 vaccine storage. The company is collaborating with Stirling Ultracold to provide portable freezers that maintain temperatures between -20°C to -80°C. These enhancements address increasing demands for dry ice as logistics providers prepare for potential shortages during vaccine distribution. UPS Healthcare aims to enhance supply chain reliability and agility for healthcare facilities.

On November 23, 2020, Special Olympics Georgia (SOGA) was awarded a generous $90,000 grant from The UPS Foundation. This funding aims to enhance SOGA's volunteer program for its State Games, which support over 26,620 athletes. The grant allows SOGA to recruit more volunteers and improve their experience, which is vital for the organization, given its small full-time staff. UPS also demonstrated ongoing commitment through its employees who volunteer at events, enhancing the overall experience for athletes.

UPS announces the election of Kate Johnson, President of Microsoft US, and Russell Stokes, President & CEO of GE Aviation Services, to its Board of Directors, effective immediately. This decision follows the departure of John Stankey, who leaves to concentrate on his role as CEO of AT&T Inc. Johnson and Stokes are recognized leaders whose expertise is expected to strengthen governance and decision-making at UPS. This change enhances diversity, with women making up 40% of the board and 25% ethnically diverse, reflecting UPS's commitment to inclusive leadership.

The UPS Board of Directors declared a quarterly dividend of $1.01 per share on all outstanding Class A and Class B shares, payable on December 3, 2020, to shareholders of record as of November 13, 2020. This marks over five decades of consistent dividend issuance, with the dividend amount more than quadrupling in the last 20 years. In 2019, UPS reported revenues of $74 billion, providing integrated logistics solutions globally, while maintaining a commitment to environmental stewardship and community support.

UPS reported a 15.9% increase in consolidated revenue, reaching $21.2 billion for Q3 2020. Diluted EPS rose to $2.24, marking an 11.4% growth. Operating profit reached $2.4 billion, an 11.0% increase year-over-year. The company's cash from operations totaled $9.3 billion, with adjusted free cash flow at $5.9 billion. UPS did not provide guidance for future earnings due to uncertainty from the pandemic but noted strong demand from Asia and small to medium businesses.

UPS announced its plan to hire over 100,000 seasonal employees, with a significant recruitment event on October 30, 2020, dubbed 'UPS Brown Friday.' The company is hosting nearly 250 virtual and in-person job fairs across the U.S., aiming to onboard at least 50,000 candidates. Seasonal positions, primarily for package handlers and drivers, often lead to permanent roles, with about 35% of recent hires transitioning to full-time employment. UPS also offers a tuition assistance program, investing nearly $670 million to support employees pursuing education.

Ware2Go, a UPS company, announced the launch of FulfillmentVu, a new technology platform designed to enhance on-demand fulfillment. This platform integrates warehouse management, order management, and transportation management systems, allowing merchants to meet customer demands effectively. With over 70 connectors for eCommerce integration and a commitment to 99% accurate fulfillment, FulfillmentVu aims to support businesses of all sizes in optimizing their operations. The CEO highlighted a year-on-year revenue growth exceeding 7x, solidifying the platform’s competitive advantage in the market.