In Q2 2024, United Parcel Service Inc (UPS) reported consolidated revenues of $21.8 billion, representing a 1.1% decline year-over-year. Although they returned to positive volume growth in the U.S. for the first time in nine quarters, challenges persisted in profitability with operating profit down 29.3% at $2.1 billion, leading to an operating margin of 9.5%. Management underscored the impact of new labor contracts and strategic shifts in product mix as key factors influencing performance. The company aims for an adjusted 2024 revenue of approximately $93 billion, with expectations for improved margins in the latter half of the year amidst robust operational adjustments and cost-saving initiatives.