UPS Q4 earnings jump 35%, says will hit margin targets early

Logistics giant United Parcel Service reported a 35% rise in quarterly profit on Tuesday, boosted by higher shipping rates and demand from more profitable e-commerce customers.

The company’s fourth-quarter adjusted net income rose to a record $ 3.15 billion, or $ 3.59 per share, from $ 2.33 billion, or $ 2.66 per share, a year earlier.

UPS also said it expects to deliver its 2023 consolidated revenue and operating margin targets one year early.

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