UPS has announced Q3 2021 consolidated revenue of $23.2bn, a 9.2% increase over the third quarter of 2020. Consolidated volume fell 3.4% year-on-year, however consolidated average revenue per piece grew 13.0% in Q3. Consolidated operating profit was $2.9bn, up 22.6% compared to the third quarter of 2020.
In its Domestic segment, revenues rose to $14.2bn, a 7.4% year-on-year increase, caused by a 12.0% rise in average revenue per piece, more than offsetting the 2.7% decline in average daily package volume in the segment. Operating profit grew 28.1%, to $1.4bn in Q3.
The International segment reported a revenue of $4.7bn, a 15.5% increase year-on-year. Average revenue per piece rose 14.0% alongside a 1.9% increase in average daily package volume. Operating profit grew 8.8%, to $1.1bn in Q3.
The Supply Chain Solutions segment revenue increased to $4.3bn, an 8.4% increase year-on-year. Within this segment, forwarding revenue was reported at $2.6bn, growing 49.7%, and Logistics revenue was reported at $1.2bn, growing 11.3%. Operating profit grew 46.5%, to $438m in Q3.
Carol Tomé, UPS chief executive officer stated: “The actions we are taking under our better not bigger strategic framework to improve revenue quality, enhance productivity and remain disciplined on capital allocation are driving our positive financial performance.”
Source: UPS
