UPS says revenue will triple in 2023

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UPS says revenue will triple in 2023

Snow falls at the United Parcel Service WorldPort hub located on February 15, 2021 in Louisville Muhammad Ali International Airport in Louisville, Kentucky, United States. REUTERS Bryan Woolston ()

United Parcel Service Inc expects to triple $100 billion in the total revenue in 2023, the world's largest parcel delivery company announced on Wednesday as it laid out its 3-year goals for the industry.

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

UPS has also said that it expects to be carbon neutral across scope 1, 2 and 3 levels by 2050 in its global operations.

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

Scope 3 emission are the result of activities from assets which are not owned or controlled by the reporting organization, but indirectly that the organization impacts in its value chain.

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