Like USPS, UPS Sees Drop in Volumes

ATLANTA, GA — UPS announced second-quarter 2023 consolidated revenues of $22.1 billion, a 10.9% decrease from the second quarter of 2022. Consolidated operating profit was $2.8 billion, down 21.4% compared to the second quarter of 2022, and down 18.4% on an adjusted basis.

UPS domestic and international volumes declined in the quarter.

In the U.S. Domestic Segment, revenue decreased 6.9%, driven by a 9.9% decrease in average daily volume, which was partially offset by a 3.3% increase in revenue per piece. In the International Segment, revenue decreased 13.0%, primarily driven by a 6.6% reduction in average daily volume and continued softness on Asia trade lanes … (click to read more)