UPS reports growth in volumes and revenue in 3Q2020, strong demand from Asia

UPS reported (28-Oct-2020) average daily volumes increased 13.5% year-on-year and consolidated revenue increased 15.9% to USD21.2 billion in 3Q2020. Operating profit increased 11% to USD2.4 billion. CEO Carol Tomé said the results were fuelled by "continued strong outbound demand from Asia and growth from small and medium-sized businesses". Business segment details include:

• US Domestic: Average daily volumes increased 13.8%, with growth across all products and continued elevated residential demand;
• International: Average daily volumes grew 12.1%, with double digit export volume growth globally and continued strong outbound demand from Asia;
• Supply Chain and Freight: Revenue increased 16.5%, driven by strong freight forwarding demand from Asia. [more - original PR]