UPS Q3 2022 Revenues Up 4.2% Year-on-Year

UPS Q3 2022 Revenues Up 4.2% Year-on-Year

Consolidated operating profit at $3.1 billion up 7.5% from last year

UPS has announced third-quarter 2022 consolidated revenues of $24.2 billion, a 4.2% increase over the third quarter of 2021.

Consolidated operating profit was $3.1 billion, up 7.5% compared to the third quarter of 2021, and up 6.0% on an adjusted basis.

Diluted earnings per share were $2.96 for the quarter; adjusted diluted earnings per share of $2.99 were 10.3% above the same period in 2021. 

For the third quarter of 2022, GAAP results included after-tax transformation and other charges of $27 million, or $0.03 per diluted share.

UPS Releases Corporate Sustainability Report

Carol Tomé, UPS Chief Executive Officer said: “I want to thank UPSers around the world for their unstoppable spirit and for continuing to deliver outstanding service to our customers.

“The macro environment is very dynamic, but we are on track to achieving our 2022 financial targets by executing our strategy and controlling what we can control.”

2022 Outlook

For the full year 2022, the company reaffirms its consolidated financial targets of revenue of around $102 billion, an adjusted operating margin of about 13.7% and adjusted return on invested capital above 30%.

For the year, the company now expects capital expenditures to be around $5.0 billion. Dividend payments are expected to be around $5.2 billion, subject to Board approval, and share repurchases are projected to be at least $3.0 billion.

Read More: UPS to Purchase Eight Additional Boeing 767 Freighters

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