United Parcel Service, Inc. (NYSE: UPS) Tuesday reported a modest decline in revenues for the second quarter of 2024. Adjusted revenue decreased in double-digits in the course of the quarter.
On an adjusted foundation, June-quarter revenue dropped 30% yearly to $1.79 per share. Unadjusted web revenue was $1.41 billion or $1.65 per share in Q2, in comparison with $2.08 billion or $2.42 per share in the identical interval of 2023.
The weak backside line efficiency displays a 1% lower in second-quarter revenues to $21.8 billion. US Home revenues and Worldwide revenues decreased by 2% and 1% respectively.
“This quarter was a significant turning point for our company as we returned to volume growth in the U.S., the first time in nine quarters. As expected, our operating profit declined in the first half of 2024 from what we reported last year. Going forward we expect to return to operating profit growth,” stated Carol Tome, CEO of UPS.