UPS posts $23.4 billion Q2 revenue

UPS has announced a second quarter 2021 consolidated revenue of $23.4 billion, which was 14.5% up on the same period last year.

The group’s consolidated operating profit for the quarter was up more than 47% year-on-year at $3.3 billion, and the year-to-date cash from operations was up more than 42% y-o-y at $8.5 billion.

Carol Tomé, UPS chief executive officer, commented: “I want to thank all UPSers for executing our strategy and delivering high service levels, which fueled record financial results in the second quarter,” said. “Through our better not bigger framework, we are moving our world forward by delivering what matters.”

Revenue for the US domestic segment was up 10.2%, driven by a 13.4% increase in revenue per piece from strong improvement in all products.

For 2021 as a whole, UPS is projecting consolidated operating margin of approximately 12.7% and return on invested capital of approximately 28%.