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Fortune

Sheryl Estrada

UPS CFO on Amazon pullback and driving a growth strategy

UPS Amazon Carol Tomé Health Care United States

(Credit: Courtesy of UPS)

Good morning. UPS continues to lean into a strategy positioning it for long-term growth—one that required shrinking its decades-long partnership with Amazon.

The package-delivery giant (No. 47 on the Fortune 500) beat Wall Street expectations for the third quarter, reporting on Tuesday $21.4 billion in revenue and adjusted EPS of $1.74, both well above forecasts. It projects about $24 billion in Q4 revenue, signaling momentum despite a choppy economy. UPS stock was up about 8% at market close.

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