UPS releases 2Q 2022 earnings


UPS has announced second-quarter 2022 consolidated revenues of $24.8 billion, a 5.7% increase over the second quarter of 2021. Consolidated operating profit was $3.5 billion, up 8.5% compared to the second quarter of 2021, and up 9.3% on an adjusted basis. Diluted earnings per share was $3.25 for the quarter; adjusted diluted earnings per share of $3.29 was 7.5% above the same period in 2021.

For the second quarter of 2022, GAAP results included after-tax transformation and other charges of $31 million, or $0.04 per diluted share.

Domestically, revenue grew 7.3%, driven by an 11.9% increase in revenue per piece. Operating margin was 11.8%; adjusted operating margin was 12.0%. Internationally, revenue increased 5.3%, driven by a 14.8% increase in revenue per piece. Operating margin was 23.5%; adjusted operating margin was 23.7%.

Supply chain solutions revenue increased 0.7%, led by forwarding and the UPS healthcare business. Operating margin was 12.1%; adjusted operating margin was 12.2%.

Source: UPS