United Parcel Service, Inc. (NYSE: UPS) reported an increase in revenue and profit for the third quarter of 2024. The cargo giant also provided guidance for fiscal 2024.
On an adjusted basis, September-quarter profit increased 12% annually to $1.76 per share. Unadjusted net income was $1.54 billion or $1.80 per share in Q3, compared to $1.13 billion or $1.31 per share in the same period of 2023.
The positive bottom line performance reflects a 6% increase in third-quarter revenues to $22.2 billion. US Domestic revenue and International revenues grew by 6% and 3% respectively. For fiscal 2024, the company expects consolidated revenue to be around $91.1 billion.
“Peak season is nearly upon us, and we are ready to deliver another successful holiday season and continue the progress we demonstrated in the third quarter,” said Carol Tome, CEO of UPS.