ATLANTA — On Oct. 26, UPS announced its third-quarter consolidated revenues of $21.1 billion, which is a 12.8% decrease from its 2022 third-quarter report.
The consolidated operating profit was $1.3 billion, which is a decrease of 56.9% from its 2022 third quarter and is also down by 48.7% on an adjusted basis. UPS’ diluted earnings per share was $1.31 for the quarter; adjusted diluted earnings per share of $1.57 were 47.5% below the same period in 2022.
“While unfavorable macro-economic conditions negatively impacted global demand in the quarter, our U.S. labor contract was fully ratified in early September and volume that diverted during our labor negotiations is starting to return to our network. I want to thank all UPSers for their hard work and efforts during this challenging time and for once again providing industry-leading service to our customers,” said Carol Tomé, UPS chief executive officer. “Looking ahead, we are well-prepared for the peak holiday season.”
For the third quarter of 2023, results included an after-tax charge of $219 million or $0.26 per diluted share, comprised of a one-time payment of $46 million to certain U.S.-based non-union part-time supervisors, transformation and other charges of $70 million, and non-cash goodwill impairment charges of $103 million.
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