UPS released its third quarter financial report for 2024, with operating profit surging 47.8%

It is learned that on October 24, according to foreign media reports, UPS announced its third-quarter financial report for 2024. Data showed that UPS's revenue in the quarter was US$22.2 billion, a year-on-year increase of 5.6%.

The following is a summary of UPS's third quarter financial results:

Revenue was $22.2 billion, up 5.6% year-over-year

Consolidated operating profit was US$2 billion, up 47.8% year-on-year

U.S. business revenue was $14.45 billion, up 5.8% year-on-year

Operating profit of the U.S. business was $898 million, with an operating profit margin of 6.2%

International business revenue was US$4.411 billion, a year-on-year increase of 3.4%

International business operating profit was $798 million, with an operating profit margin of 18.1%

Supply Chain revenue was $338.4 million, up 8% year-over-year

Supply Chain's operating profit was $289 million, with an operating margin of 8.5%

The report pointed out that driven by a 6.5% increase in average daily transaction volume, US business revenue increased by 5.8%, while the main reason for the increase in supply chain business revenue was the growth of air and ocean freight business and the continued addition of USPS air freight. UPS CEO Carol Tomé said that after 18 difficult months, UPS's revenue and profits have returned to growth. With the peak season approaching, UPS is ready for another successful holiday season and continue the progress made in the third quarter.

For the full year 2024, UPS updated its revenue and operating margin targets. Full-year revenue is expected to be approximately $91.1 billion, non-GAAP adjusted operating margin expectations are raised to approximately 9.6%, and capital expenditures are expected to be approximately $4 billion.

Author ✎ Rayna/

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