United Parcel Service reported second-quarter net income of $604 million, or 71 cents per share, for the period ended June 30, 2024, compared with $1.28 billion, or $1.51 per share, in the same period a year earlier, according to a company release.
On an adjusted basis, UPS posted a profit of $1.5 billion, or $1.76 per share, for the second quarter.
The company raised its full-year 2026 guidance, now expecting consolidated revenue of $91.2 billion and adjusted diluted earnings per share of approximately $7.22.
Domestic revenue rose 6%, international revenue increased 12.5%, and supply chain solutions revenue grew 7.8% during the second quarter.
UPS reported it has achieved approximately $1.2 billion of benefits from its network reconfiguration program, and expects to reach $3 billion in benefits by the end of 2024.
The company's results exceeded analyst expectations, according to reports.