UPS raises full-year revenue outlook to $92.6B after cutting Amazon deliveries

UPS beat expectations in its Q3 results and raised its full-year revenue forecast from $91.2 billion to $92.6 billion. The carrier has halved its Amazon delivery volume while keeping returns, as part of a broader network overhaul.

• Full-year revenue outlook raised from $91.2B to $92.6B
• Amazon delivery volume cut in half by this summer
• Amazon accounted for 12% of UPS revenue and about half of US packages in 2023
• UPS shares rose about 5% on the results