Will UPS Profits Hit $10 Billion in 2021?

Today, UPS announced third quarter profits of $2.3 billion. The company has made a staggering $7.4 billion in profit after taxes in the first nine months this year, and is headed toward a record $10 billion in profits for the year.  

Third quarter volume was down by 3% compared to last year when the pandemic drove record online orders. But profits were still up by 9 percent for the same period last year. That’s because 3% profits per package was up 12%.

After the profits for peak  come in, this will easily be UPS’s most profitable year ever. The consensus forecast by industry analysts is that UPS will make profits after taxes of $9.77 billion for the year. 

Today’s profit figures are further proof that the 2018 contract including the 22.4 giveback was a sellout.

This company can more than afford to make all 22.4s into RPCDs, stop subcontracting, create more full-time 22.3 jobs, and pay living wages to part-timers. Let’s make them do it in 2023! 

Click here to read the UPS earnings report

Get Advice Join TDU Donate

Recent News

Albertsons Teamsters Ratify Strong Contract

Last year, Local 771 members elected new local leaders on a program of building union power by involving members. Now nearly 500 grocery Teamsters at Albertsons have won a new contract that includes record wage increases and benefit improvements.

Webinar: Build Bargaining Power with a Contract Campaign

From national contracts to local agreements, unions are mobilizing to take on employers and win. Watch the recording of the webinar to hear how.

View More News Posts