United Parcel Service forecast $100 billion in global revenue in 2023

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United Parcel Service forecast $100 billion in global revenue in 2023

Snow falls at United Parcel Service WorldPort Hub in Louisville at the Muhammad Ali International Airport in Louisville.

United Parcel Service Inc expects to exceed $100 billion in global revenue in 2023, said the world's biggest parcel delivery company on Wednesday as it announced its three-year financial targets.

The firm forecast full-year revenues between $98 billion to $102 billion for 2023, compared with the average analyst estimate of $100.19 billion according to Refinitiv data. It had reported a full-year revenue of $84.6 billion in 2020.

UPS has also said that it will be carbon-neutral in its global operations by 2050 across scope 1, 2 and 3 emissions.

Scope 1 refers to emissions from a company's direct operations, while scope 2 emissions result from the power that a company uses for its operations, such as gas-powered electricity purchased.

Scope 3 emissions are the result of activities from assets that are not owned or controlled by the reporting organization, but directly have impacts on the organization in its value chain.

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