2024-01-30 12:34:11 ET
United Parcel Service, Inc. (UPS)
Q4 2023 Earnings Conference Call
January 30, 2024, 8:30 AM ET
Corporate Participants
PJ Guido - Investor Relations Officer
Carol Tome - Chief Executive Officer
Brian Newman - Executive Vice President and Chief Financial Officer
Nando Cesarone - Executive Vice President and President, US
Kate Gutmann - Executive Vice President and President International, Healthcare and Supply Chain Solutions
Conference Call Participants
Chris Wetherbee - Citigroup
David Vernon - Bernstein
Amit Mehrotra - Deutsche Bank
Conor Cunningham - Melius Research
Allison Poliniak - Wells Fargo
Tom Wadewitz - UBS
Jeff Kauffman - Vertical Research Partners
Brandon Oglenski - Barclays
Helane Becker - TD Cowen
Scott Group - Wolfe Research
Jordan Alliger - Goldman Sachs
Presentation
Operator
Good morning. My name is Steven and I will be your conference facilitator today. And I would like to welcome everyone to the UPS Investor Relations Fourth Quarter 2023 Earnings Conference Call. All lines have been placed on mute to prevent any background noise and after the speakers' remarks, there will be a question-and-answer period. [Operator Instructions]
It is now my pleasure to turn the floor over to your host Mr. PJ Guido, Investor Relations Officer. Sir, the floor is yours.
PJ Guido
Good morning, and welcome to the UPS Fourth Quarter 2023 Earnings Call. Joining me today are Carol Tome, our CEO; Brian Newman, our CFO, and a few additional members of our executive leadership team.
Before we begin, I want to remind you that some of the comments we'll make today are forward-looking statements within the federal securities laws and address our expectations for the future performance or operating results of our company. These statements are subject to risks and uncertainties, which are described in our 2022 Form 10-K and other reports we filed with or furnished to the Securities and Exchange Commission.
These reports, when filed, are available on the UPS Investor Relations website and from the SEC. Unless stated otherwise, our discussion refers to adjusted results. For the fourth quarter of 2023, GAAP results include a non-cash after-tax mark-to-market pension charge of $274 million, after-tax transformation and other charges of $154 million, and a non-cash after-tax impairment charge of $84 million relating to our Coyote trade name in our truckload brokerage unit....
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United Parcel Service, Inc. (UPS) Q4 2023 Earnings Call Transcript