First quarter earnings results issued this morning by Atlanta-based global freight transportation and logistics services provider UPS were down.
Quarterly consolidated revenue, at $21.7 billion, fell 5.3% annually, and adjusted earnings per share, at $1.43, saw a 35.0% annual decline. Consolidated quarterly operating profit came in at $1.6 billion, which was off 36.5% annually.
“I want to thank all UPSers for their hard work and efforts,” said Carol Tomé, Chief Executive Officer at UPS. “Our financial performance in the first quarter was in line with our expectations, and average daily volume in the U.S. showed improvement through the quarter. Looking ahead, we expect to return to volume and revenue growth.”
Individual segment results for UPS in Q4 2023:
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