UPS reports $65.9bn revenue for 2017

UPS has reported that its revenues for 2017 were up 8.2% at $65.9bn.

Revenues for the fourth quarter (Q4) were up 11% at $18,829m. The adjusted operating profit for Q4 was $2.294bn, compared to a loss of $428m for Q4 2016.

In a statement issued today (1 February), David Abney, UPS chairman and CEO, said: “We achieved our 2017 adjusted earnings-per-share target through exceptionally strong revenue and yield growth, coupled with benefits from our network investments and portfolio initiatives.

“We made significant progress on key capacity investments in 2017. Our momentum, transformative actions and the economic catalyst from the Tax Cuts and Jobs Act (TCJA), position UPS for growth in 2018 and beyond. We expect to unlock significant resources, which will be available for accelerated investments in our network and create additional opportunities for our people.”