UPS issues new forecast
UPS has put forward its 2023 financial targets. Consolidated revenues are expected to range between around USD 98 billion and USD 102 billion. The consolidated adjusted operating margin is planned to be in the 12.7% to 13.7% range. The cumulative capital spending from 2021–2023 is planned to cover approximately USD 13.5 billion to approximately USD 14.5 billion.
Adjusted return on invested capital is supposed to range from about 26% to about 29%. The company is also announcing a new set of company-wide ESG targets, including a 50% reduction of carbon per package delivered for its global small package operations (2020 base year), 100% of company facilities powered by renewable electricity and 30% of the fuel used in its global air fleet be sustainable aviation fuel. UPS recently published its ESG strategy. (cd)