UPS releases 3Q 2022 earnings

• Consolidated Revenues of $24.2B, Up 4.2% from Last Year
• Consolidated Operating Profit of $3.1B, Up 7.5% from Last Year; Up 6.0% on an Adjusted* Basis
• Diluted EPS of $2.96; Adjusted Diluted EPS Up 10.3% Over Last Year to $2.99
• Reaffirms FY 2022 Consolidated Revenue, Adjusted Operating Margin and Adjusted Return on Invested Capital Targets

ATLANTA – October 25, 2022 – UPS (NYSE:UPS) today 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.

“I want to thank UPSers around the world for their unstoppable spirit and for continuing to deliver outstanding service to our customers,” said Carol Tomé, UPS chief executive officer. “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.”

U.S. Domestic Segment

• Revenue grew 8.2%, driven by a 9.8% increase in revenue per piece.

• Operating margin was 10.8%; adjusted operating margin was 11.0%.

International Segment

• Revenue increased 1.7%, driven by a 6.4% increase in revenue per piece.

• Operating margin was 20.8%; adjusted operating margin was 20.9%.

Supply Chain Solutions¹

¹ Consists of operating segments that do not meet the criteria of a reportable segment under ASC Topic 280 – Segment Reporting.

• Revenue decreased 6.3%, due to declines in air and ocean freight forwarding, partially offset by growth in our logistics and healthcare businesses.

• Operating margin was 11.3%; adjusted operating margin was 11.5%.

2022 Outlook

The company provides guidance on an adjusted (non-GAAP) basis because it is not possible to predict or provide a reconciliation reflecting the impact of future pension adjustments or other unanticipated events, which would be included in reported (GAAP) results and could be material.

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.

_{* “Adjusted” amounts are non-GAAP financial measures. See the appendix to this release for a discussion of non-GAAP financial measures, including a reconciliation to the most closely correlated GAAP measure.}

Contacts:

UPS Media Relations: 404-828-7123 or pr@ups.com

UPS Investor Relations: 404-828-6059 (option 4) or investor@ups.com

Om UPS

UPS (NYSE: UPS) är ett av världens största paketleveransföretag med en omsättning på 84,6 miljarder dollar (2020). UPS erbjuder ett brett utbud av integrerade logistiklösningar för kunder i mer än 220 länder och områden världen över. Företaget har över 540 000 anställda och mottot ”Moving our world forward by delivering what matters”, där vi alla arbetar efter strategin: Customer First. People Led. Innovation Driven. UPS har åtagit sig att minska sin miljöpåverkan och stödja de samhällen vi arbetar för runt om i världen. UPS arbetar även aktivt med mångfald, jämlikhet och inkludering. Företaget finns på ups.com, med mer information på about.ups.com och investors.ups.com/.