UPS has seen lower shipping volumes than last year, but higher shipping rates have driven strong revenue and profits for the company, despite the uncertain economic environment.
UPS chief financial officer Brian Newman said Tuesday there are "many cross-currents that contributed to a dynamic macro environment" in the last three months.
Internationally, "a softer macro economic environment, the war in Eastern Europe and lockdowns in China pressured volumes," Newman said during a conference call with investors.
