Carol Tomé's 'better, not bigger' strategy is keeping UPS profitable - Stat Times
In June last year Carol Tomé took reins at UPS, one of the world’s largest logistics companies, as its chief executive officer. Seven months later and two successful quarters behind, all in the midst of a global pandemic, UPS, under Tome, is only getting better.
Consolidated revenue in the Q4 of 2020 rose 21 percent from last year to $24.9 billion and operating profit grew 26 percent from last year to $2.9 billion. This is the highest quarterly operating profit in the history of UPS with record profit produced in each segment. For the year, UPS generated record revenue of $84.6 billion with growth in all three segments. It had its operating profit increase by 7 per cent to $8.7 billion and generated diluted earnings per share of $8.23, an increase of 9.3 per cent.
It has allocated $4 billion for capital investment for 2021. About 50 per cent of that is for growth that includes investment in its healthcare logistics broadly besides specific capacity building for Covid-19 vaccine distribution. For the Covid-19 vaccine roll out, the company built command centres and invested in setting up two large freezer farms, one in Kentucky and another in the Netherlands. It introduced a new technology, called PS Premiere, a label that is put on the package which allows it to be tracked along the supply chain.
In June last year Carol Tomé took reins at UPS, one of the world’s largest logistics companies, as its chief executive officer. Seven months later and two successful quarters behind, all in the midst of a global pandemic, UPS, under Tome, is only getting better.
Consolidated revenue in the Q4 of 2020 rose 21 percent from last year to $24.9 billion and operating profit grew 26 percent from last year to $2.9 billion. This is the highest quarterly operating profit in the history of UPS with record profit produced in each segment. For the year, UPS generated record revenue of $84.6 billion with growth in all three segments. It had its operating profit increase by 7 per cent to $8.7 billion and generated diluted earnings per share of $8.23, an increase of 9.3 per cent.
It has allocated $4 billion for capital investment for 2021. About 50 per cent of that is for growth that includes investment in its healthcare logistics broadly besides specific capacity building for Covid-19 vaccine distribution. For the Covid-19 vaccine roll out, the company built command centres and invested in setting up two large freezer farms, one in Kentucky and another in the Netherlands. It introduced a new technology, called PS Premiere, a label that is put on the package which allows it to be tracked along the supply chain.
ing 800 tons of tp might increase your profit just a bit
