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Business

Kelly Yamanouchi

UPS reports $11.55 billion profit for 2022 as it continues to hike rates

UPS Carol Tomé Brian Newman Teamsters

UPS reported an $11.55 billion profit for 2022 and reached $100.34 billion in revenue for the year, as it continues to hike shipping rates.

The 3.1% year-over-year increase in revenue came as the Sandy Springs-based shipping giant’s rate increases make it more expensive to get packages delivered.

UPS two weeks ago announced new “demand surcharges” and surcharges for large packages.

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