UPS Releases 2Q 2023 Earnings

Total operating revenue was $19.3 billion for the quarter, a decrease of $484 million, or 2.4 percent, compared to the same quarter last year. First-Class Mail revenue increased $33 million, or 0.5 percent, on a volume decline of 1.1 billion pieces, or 8.1 percent, compared to the same quarter last year. Marketing Mail revenue decreased $161 million, or 4.3 percent, on a volume decline of 1.7 billion pieces, or 11.0 percent, compared to the same quarter last year. Shipping and Packages revenue decreased $162 million, or 2.1 percent, on a volume decline of 89 million pieces, or 5.0 percent, compared to the same quarter last year. Total operating expenses were $22.0 billion for the quarter, an increase of $1.6 billion, or 7.6 percent, compared to the same quarter last year. On a non-GAAP basis, adjusted operating expenses increased by $641 million, or 3.3 percent, compared to the same quarter last year.

The United States Postal Service reported new service delivery performance metrics for the first week of the fiscal second quarter showing service performance holding steady for First-Class Mail, Marketing Mail and Periodicals. Consistent with the rest of the shipping industry, the organization experienced some minor delays in both ground and air transportation during the week of January 1-7. The Postal Service continues to address impacts to last mile delivery due to availability challenges due to COVID-19 cases and inclement weather events including winter storms on the East Coast, Midwest and West Coast. Second quarter-to-date service performance scores covering the period Jan.1 through Jan. 7 included: *First-Class Mail: 90 percent of First-Class Mail delivered on time against the USPS service standard, an improvement of .37 percentage points from the first quarter. *Marketing Mail: 91.7 percent of Marketing Mail delivered on time against the USPS service standard, a slight decrease of .46 percentage points from the first quarter. Periodicals: 81.1 percent of Periodicals delivered on time against the USPS service standard, with an improvement of .37 percentage points from the first quarter.

The European Academy of Allergy and Clinical Immunology (EAACI) and John Wiley & Sons Inc., a global leader in research and education, have expanded their publishing partnership to include EAACI’s official open access journal Clinical and Translational Allergy (CTA) alongside their other publications, Allergy and Pediatric Allergy and Clinical Immunology, as of January 2021. CTA is a fully open access journal, edited by Prof. Jean Bousquet and Dr. Clive Grattan, and provides a dissemination of allergy research and reviews, as well as EAACI position papers, task force reports, and guidelines for an international scientific audience. “We are delighted to extend our collaboration with Wiley to include CTA in 2021. Having all three journals under the same publishing umbrella will allow them to benefit from Wiley's extensive expertise in the publishing process, while at the same time keeping up the high quality of EAACI's scientific content, including the most relevant progress and updates in the field." Tomàs Chivato, EAACI VP Science; Jean Bousquet, CTA Editor-in-Chief; Clive Grattan, CTA Editor-in-Chief.