UPS revenues tail off in fourth quarter

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UPS reported revenues down 2.7% from last year at $27.0bn in its fourth quarter 2022 earnings. However, for 2002 as a whole, revenue increased 3.1% to $100.3 billion. Diluted earnings per share were $3.96 for the quarter and adjusted diluted earnings per share were $3.62, 0.8% above the same period in 2021.

UPS said it expects revenue in 2023 to be between $97.0 billion and $99.4 billion and consolidated adjusted operating margin of between 12.8% and 13.6%. It also expects capital expenditures to be about $5.3 billion, dividend payments to be around $5.4 billion, subject to Board approval, and share repurchases to be around $3 billion.

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