UPS Releases 2Q 2023 Earnings

UPS (NYSE:UPS) today announced second-quarter 2023 consolidated revenues of $22.1 billion, a 10.9% decrease from the second quarter of 2022. Consolidated operating profit was $2.8 billion, down 21.4% compared to the second quarter of 2022, and down 18.4% on an adjusted basis. Diluted earnings per share were $2.42 for the quarter; adjusted diluted earnings per share of $2.54 were 22.8% below the same period in 2022.

For the second quarter of 2023, GAAP results included after-tax transformation and other charges of $106 million, or $0.12 per diluted share.

“We are pleased to have reached agreement with the Teamsters. I want to thank the more than 500,000 UPSers around the world for their hard work and efforts, and for once again providing industry-leading service. And a special thank you to our customers for trusting your business with UPS during our labor negotiations,” said Carol Tomé, UPS chief executive officer. “UPS is stronger than ever. Looking ahead, we will stay on strategy to capture growth in the most attractive parts of the market and make our global integrated network even more efficient.”
details at: https://about.ups.com/us/en/newsroom/press-releases/financials/ups-releases-2q-2023-earnings.html

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