UPS has announced fourth-quarter 2022 consolidated revenues of $27.0 billion, a 2.7% decrease from the fourth quarter of 2021. Consolidated operating profit was $3.2 billion, down 17.9% compared to the fourth quarter of 2021, and down 3.3% on an adjusted basis. Diluted earnings per share were $3.96 for the quarter; adjusted diluted earnings per share of $3.62 were 0.8% above the same period in 2021.
For the fourth quarter of 2022, GAAP results include a net benefit of $299 million, or $.34 per diluted share.
Domestically, revenue grew 3.1%, driven by a 7.2% increase in revenue per piece. Operating margin was 10.1%; adjusted operating margin was 12.8%.
Supply chain solutions revenue decreased by18.1%, due to volume and market rate declines in air and ocean freight forwarding, partially offset by growth in our healthcare business. And the operating margin was 8.7%; with the adjusted operating margin being 10.5%.