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UPS revenue and profits fall

[ April 23, 2024   //   ]

UPS reorted first-quarter 2024 consolidated revenues of $21.7 billion on 22 April, a 5.3% decrease from the first quarter of 2023. Consolidated operating profit was $1.6 billion, down 36.5% compared to the first quarter of 2023, and down 31.5% on an adjusted basis.

Chief executive Carol Tomé, said: “Our financial performance in the first quarter was in line with our expectations, and average daily volume in the US showed improvement through the quarter. Looking ahead, we expect to return to volume and revenue growth.”