UPS releases second quarter 2024 financial report
On July 25, UPS announced that the comprehensive revenue in the second quarter of 2024 was US$21.8 billion, a decrease of 1.1% from the same period last year. The comprehensive operating profit was US$1.9 billion, a decrease of 30.1% from the same period last year, and the adjusted comprehensive operating profit was 29.3% lower than the same period last year.
In terms of business, in the second quarter, the domestic business revenue in the United States was US$14.119 billion, a year-on-year decrease of 1.9%, mainly due to a 2.6% decrease in per-piece revenue caused by changes in product structure; operating profit was US$989 million. International business revenue was US$4.370 billion, a year-on-year decrease of 1.0%, mainly due to a 2.9% decrease in average daily freight volume; operating profit was US$718 million. Supply chain and freight business revenue was US$3.329 billion, a year-on-year increase of 2.6%.
UPS updated its full-year financial goals for 2024: comprehensive revenue is expected to be approximately US$93 billion; comprehensive adjusted operating profit margin is expected to be approximately 9.4%; capital expenditure is expected to be approximately US$4 billion; stock repurchase target is approximately US$500 million