United Parcel Service (UPS) 10-K Summary — Year Ended Dec 31, 2023
This filing covers the company's fiscal year 2023 operations. The company reported a decline in revenue and net income compared to the prior year.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
This filing covers the company's fiscal year 2023 operations. The company reported a decline in revenue and net income compared to the prior year.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$91B
Revenue reported for the fiscal year.
Operating income
$9.1B
Income from operations reported for the year.
Net income
$6.7B
Net income reported for the year.
Operating cash flow
$10.2B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $97.3B | n/a |
| Dec 31, 2022 | $100.3B | +3.1% |
| Dec 31, 2023 | $91B | -9.3% |
Business overview
The company provides package delivery and supply chain solutions through three segments: U.S. Domestic Package, International Package, and Supply Chain Solutions. The filing notes its competitive strengths and strategy, but no detailed business description is provided in the supplied data.
Financial performance
Revenue decreased from the prior year, while operating income and net income also declined. Operating cash flow remained positive. The filing attributes the performance to various factors discussed in the management discussion and analysis section.
Material risks
The filing includes a risk factors section, but the supplied data does not contain the specific risk descriptions. Therefore, no material risks can be identified from the provided context.
Liquidity and capital
The filing discusses liquidity and capital resources, noting operating cash flow and collective bargaining agreements. No specific capital allocation themes are detailed in the supplied data.
What to watch
Monitor the outcome of collective bargaining agreement negotiations, as referenced in the liquidity and capital resources section.