• Consolidated Operating Profit of $3.5B, Up 8.5% from Last Year; Up 9.3% on an Adjusted* Basis
  • Diluted EPS of $3.25; Adjusted Diluted EPS Up 7.5% Over Last Year to $3.29
  • Reaffirms Full-Year 2022 Financial Guidance; Raises Targeted Share Repurchases to $3B for 2022

DUBAI:UPS (NYSE:UPS) today announced second-quarter 2022 consolidated revenues of $24.8 billion, a 5.7% increase over the second quarter of 2021. Consolidated operating profit was $3.5 billion, up 8.5% compared to the second quarter of 2021, and up 9.3% on an adjusted basis. Diluted earnings per share was $3.25 for the quarter; adjusted diluted earnings per share of $3.29 was 7.5% above the same period in 2021.

For the second quarter of 2022, GAAP results included after-tax transformation and other charges of $31 million, or $0.04 per diluted share.

“I want to thank UPSers around the world for delivering outstanding service to our customers,” said Carol Tomé, UPS chief executive officer. “While the external environment is ever changing, our better not bigger strategic framework has fundamentally improved nearly every aspect of our business, enabling greater agility and strong financial performance.”  

2022 Outlook

The company provides guidance on an adjusted (non-GAAP) basis because it is not possible to predict or provide a reconciliation reflecting the impact of future pension adjustments or other unanticipated events, which would be included in reported (GAAP) results and could be material.

For 2022, UPS reaffirms its full-year financial targets:

  • Consolidated revenue of about $102 billion
  • Consolidated adjusted operating margin of approximately 13.7%
  • Adjusted return on invested capital above 30%
  • Capital expenditures of 5.4% of revenue, or approximately $5.5 billion
  • Dividend payments, subject to board approval, of about $5.2 billion

Finally, UPS is raising the amount of targeted share repurchases for 2022, taking the target to $3 billion for the year.

For more information, please click here: https://about.ups.com/us/en/newsroom/press-releases/financials/ups-releases-2q-2022-earnings.html

* “Adjusted” amounts are non-GAAP financial measures. See the appendix to this release for a discussion of non-GAAP financial measures, including a reconciliation to the most closely correlated GAAP measure.

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About UPS

UPS (NYSE: UPS) is one of the world’s largest companies, with 2021 revenue of $97.3 billion, and provides a broad range of integrated logistics solutions for customers in more than 220 countries and territories. Focused on its purpose statement, “Moving our world forward by delivering what matters,” the company’s 534,000 employees embrace a strategy that is simply stated and powerfully executed: Customer First. People Led. Innovation Driven. UPS is committed to reducing its impact on the environment and supporting the communities we serve around the world. UPS also takes an unwavering stance in support of diversity, equity, and inclusion.  More information can be found at www.ups.com, about.ups.com and www.investors.ups.com.