UPS CFO on the strategic overhaul behind a $22.9 billion quarter
Source: Fortune ·
Brian Dykes explains how a focus on higher-value customers is paying off as UPS prepares to hire 100,000 seasonal workers for the holiday rush.
From the source
Good morning. About a year ago, I first spoke with UPS CFO Brian Dykes about the company’s strategic pivot: shedding lower-return, capital-intensive delivery volume, including scaling back its decades-long partnership with Amazon, to focus on customers where UPS could add more value. With much of that transformation completed, the strategy is beginning to pay off: UPS’s core volume returned to growth in the third quarter, exceeding expectations. “The strategy is coming to life,” Dykes told me Tuesday following the earnings call. We discussed the transformation and preparations for the holiday season. UPS (No. 48 on the Fortune 500) reported third-quarter 2026 revenue of $22.9 billion, compared to $22.29 billion expected, and operating profit of $1.7 billion, or $2.1 billion on an adjusted basis. Diluted earnings per share were $1.37, compared with adjusted earnings of $1.69. The company also raised its full-year revenue, profit, and free-cash-flow guidance for the second consecutive…