UPS recently announced third-quarter 2024 consolidated revenues of $22.2 billion, a 5.6% increase from the third quarter of 2023. Consolidated operating profit was $2.0 billion, up 47.8% compared to the third quarter of 2023, and up 22.8% on a non-GAAP adjusted basis. Diluted earnings per share were $1.80 for the quarter; non-GAAP adjusted diluted earnings per share were $1.76, 12.1% above the same period in 2023.
For the third quarter of 2024, GAAP results include an after-tax net benefit of $36 million, or $0.04 per diluted share, comprised of a $152 million gain resulting from the divestiture of the Coyote Logistics business net of transformation strategy costs of $116 million, highlighted a release.
“I want to thank all UPSers for their hard work and efforts. After a challenging 18-month period, our company returned to revenue and profit growth,” said Carol Tomé, UPS chief executive officer. “Peak season is nearly upon us, and we are ready to deliver another successful holiday season and continue the progress we demonstrated in the third quarter.”