(AOF) – UPS reported consolidated revenue of $21.1 billion for the third quarter of 2023, down 12.8% compared to the third quarter of 2022. Consolidated operating profit increased is pegged at $1.3 billion, down 56.9% from the third quarter of 2022, and down 48.7% on an adjusted basis. Diluted earnings per share stood at $1.31 for this quarter. Its adjusted diluted earnings per share of $1.57 is 47.5% lower than the same period in 2022.
Taking into account global macroeconomic uncertainty, UPS now expects its 2023 consolidated revenue to be between $91.3 billion and $92.3 billion (up from a previous estimate of nearly $93 billion ).
The delivery and logistics company is now targeting a consolidated adjusted operating margin of between 10.8% and 11.3% compared to a previous estimate of around 11.8%.
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