Surging Volume Lifts Profit For UPS — WSJ - Morningstar
United Parcel Service Inc. rode a pandemic-fueled surge in e-commerce to higher profits and a 13% jump in revenue during the June quarter, and its new boss said the delivery giant has room to raise rates on retailers relying on its network.
UPS said its average daily shipping volume rose 21% in the quarter, faster than the company has ever recorded, with a 65% increase in shipments to homes.
The magnitude of the jump was a surprise to UPS, which had been planning for demand to pull back from the high levels in the early days of the pandemic.
United Parcel Service Inc. rode a pandemic-fueled surge in e-commerce to higher profits and a 13% jump in revenue during the June quarter, and its new boss said the delivery giant has room to raise rates on retailers relying on its network.
UPS said its average daily shipping volume rose 21% in the quarter, faster than the company has ever recorded, with a 65% increase in shipments to homes.
The magnitude of the jump was a surprise to UPS, which had been planning for demand to pull back from the high levels in the early days of the pandemic.
