Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
Paying user area
Try for free
United Parcel Service Inc. pages available for free this week:
- Statement of Comprehensive Income
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
- Aggregate Accruals
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to United Parcel Service Inc. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
United Parcel Service Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Revenue
- Revenue exhibits some volatility across the quarters, starting at $18,035 million in Mar 2020 and generally increasing until Dec 2021, peaking at $27,771 million. A decline is observed throughout 2023, with some recovery towards the end of 2024 and into 2025, though values do not consistently reach previous highs. This pattern suggests external factors impacting sales or service volumes variably over time.
- Compensation and benefits
- Compensation and benefits expenses tend to follow revenue trends closely but with notable fluctuations. Generally, they increase from $10,086 million in Mar 2020 to a peak near $13,301 million in Dec 2022, then decrease slightly in subsequent quarters. The persistent high levels reflect a significant ongoing cost of labor relative to revenue.
- Repairs and maintenance
- Repairs and maintenance expenses remain relatively stable, ranging between approximately $550 million and $775 million each quarter. Slight upward movement is observed over the years, potentially indicating aging assets or increased maintenance requirements.
- Depreciation and amortization
- Depreciation and amortization costs show a gradual increase from around $648 million in early 2020 to peaks above $900 million by 2024–2025, reflecting ongoing capital investment and asset aging over the period.
- Purchased transportation
- This expense category exhibits significant volatility, initially rising sharply in 2020, peaking at $5,731 million in Dec 2020, then declining markedly through 2022 and 2023, reaching lows near $2,500 million in late 2024 and 2025. This trend could relate to changes in outsourcing strategies or shifts in the transportation mix.
- Fuel
- Fuel expenses fluctuate substantially, beginning at $761 million in Mar 2020, peaking around $1,697 million mid-2022, and then declining again to approximately $1,058 million by Mar 2025. These variations likely correspond with fuel price volatility and consumption adjustments.
- Other occupancy
- These costs vary slightly but show a general upward trend from $383 million in early 2020 to about $607 million by mid-2025, indicating incremental increases in facility-related expenses.
- Other expenses
- Other expenses show irregular patterns with occasional sharp increases, such as a peak near $2,776 million in Dec 2020 and $2,496 million in Dec 2022. Despite fluctuations, there is a tendency toward reduction in some recent quarters, possibly reflecting cost control initiatives.
- Operating expenses
- Operating expenses mirror revenue and individual cost trends, rising from approximately $16,963 million in Mar 2020 to highs exceeding $23,880 million in Dec 2020, with variations thereafter. Some reduction is visible in late 2023 and 2024 but costs remain substantial relative to revenue.
- Operating profit
- Operating profit fluctuates markedly, with significant peaks in Jun 2021 ($3,258 million) and Dec 2021 ($3,891 million), followed by a decline reaching a low in Sep 2023 ($1,343 million). Recovery occurs towards late 2024, suggesting influences of both revenue fluctuations and cost management effectiveness on profitability.
- Investment income (expense) and other
- This line shows extreme volatility, with a large negative figure in Dec 2020 (-$6,150 million) followed by sharp positive amounts in early 2021. Values stabilize somewhat thereafter with smaller positive and negative amounts, indicating extraordinary items or non-operating income/expenses impacting overall financial performance non-recurring.
- Interest expense
- Interest expense remains relatively stable around $175 to $230 million per quarter, with a slight upward trend over the entire period, suggesting consistent debt levels or modest changes in interest rates.
- Other income (expense)
- Similar to investment income, other income (expense) reveals large swings, particularly in Dec 2020 and Dec 2022 with significant negative impacts followed by recovery periods. This pattern further indicates irregular, possibly non-recurring charges influencing net results.
- Income before income taxes
- Income before taxes is highly variable, from a negative $4,288 million in Dec 2020 to strong positive peaks above $6,200 million in Mar 2021 and robust figures around $4,500 million in Dec 2022. Post-2022, pre-tax income shows moderate levels with oscillations but no clear sustained trend upward or downward.
- Income tax expense
- Income tax expense trends generally mirror pre-tax income movements, with large negative taxes (tax benefits) in high net income periods and positive tax charges in quarters with pre-tax losses. Expense amounts fluctuate, indicating variability in taxable income and potential changes in tax rates or benefits.
- Net income
- Net income exhibits significant volatility, from a loss of $3,347 million in Dec 2020 to strong profits exceeding $4,700 million in Mar 2021. While profits are generally sustained throughout most quarters, intermittent declines occur, especially in 2023, with partial recovery into 2024 and 2025. Overall, the results reflect sensitivity to operational performance and non-operating items.