UPS Q1 profits up 17.6%

In its first quarter, 2022 financial report, UPS has shown revenues up 6.4% to US $24.4bn and an operating profit of $3.3 billion, up 17.6% from the same period in 2021.

For its US domestic business, UPS saw profits of $1.662 billion on revenues of $15.1 billion. Its international business saw $4.87 billion and profits of $1.116 billion. Its Supply Chain Solutions business saw revenues of $4.37 billion and an operating profit on that of $473 million.

“I want to thank all UPSers for their outstanding efforts during a challenging first quarter to serve the needs of our customers,” said Carol Tomé, UPS chief executive officer. “The agility of our network and the continued execution of our strategy delivered another quarter of strong financial performance, putting us on our way to achieving our 2022 consolidated financial targets.”

Currently the logistics giant forecasts full year revenues to be in the region of $102 billion and profits to be in the region of 13.7% of that.

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