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  • Writer's pictureTeam CargoTalk

UPS releases earnings for second quarter of 2023



UPS announced second quarter 2023 consolidated revenues of US$22.1 billion, a 10.9 per cent decrease from the second quarter of 2022. Consolidated operating profit was US$2.8 billion, down 21.4 per cent compared to the second quarter of 2022, and down 18.4 per cent on an adjusted basis. Diluted earnings per share were US$2.42 for the quarter; adjusted diluted earnings per share of US$2.54 were 22.8 per cent below the same period in 2022. For the second quarter of 2023, GAAP results included after-tax transformation and other charges of US$106 million, or US$0.12 per diluted share. “We are pleased to have reached agreement with the Teamsters. I want to thank 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 our business with UPS during our labor negotiations,” said Carol Tomé, CEO, UPS. “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.”

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