UPS – strong growth in Q3

In its third quarter financial results, UPS reported a 9.2% growth in consolidated revenue compared to Q3, 2020. Consolidated revenue was $23.2 billion, and consolidated operating profit was up 22.6% to $2.9 billion in the quarter.

Amongst other points of interest, UPS International Segment saw strong growth, with revenues of $4.72 billion and an operating profit of $1.108 billion. Supply Chains Solutions revenues grew 8.4% to $4.256 billion and operating profit grew by close to 30% to $448 million.

“I want to thank all UPSers for delivering what matters with great service to our customers,” said Carol Tomé, UPS chief executive officer. “The actions we are taking under our better not bigger strategic framework to improve revenue quality, enhance productivity and remain disciplined on capital allocation are driving our positive financial performance.”

The parcels and logistics giant did well from the global pandemic, seeing parcel revenues grow strongly around the world, and is among the big four US parcel carriers that now control 99% of the US delivery market.