{
  "id": 16902552,
  "title": "UPS CFO on the strategic overhaul behind a $22.9 billion quarter",
  "url": "https://urgent.news/2026/10/28/ups-cfo-on-the-strategic-overhaul-behind-a-22-9-billion-quarter",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-28T12:14:41.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/10/28/ups-cfo-strategic-overhaul-behind-22-billion-quarter/"
  },
  "original_language": "en",
  "account": "UPS CFO Brian Dykes discussed the company's strategic overhaul resulting in a $22.9 billion quarter in earnings. He shared that the strategy involved shedding lower-return, capital-intensive delivery volume, including reducing its long-standing partnership with Amazon, to focus on customers where UPS could add more value. With much of this transformation completed, UPS's core volume returned to growth in the third quarter, exceeding expectations. Dykes highlighted that growth came from prioritized customer segments, including U.S. small and midsize businesses, which increased by 3.7%, and enterprise volume, which grew by approximately 1%. High-tech and healthcare shipments, along with investments in Asia's air network, contributed to international growth. An emerging opportunity lies in data center construction, where UPS can move necessary equipment for building facilities. Dykes emphasized the importance of staying committed to the strategy through uncertainty, drawing inspiration from the company's 119-year legacy and courageous predecessors. He mentioned that the leadership team, led by CEO Carol Tomé, is aligned in executing the strategy, even when stock prices did not reflect the support. UPS shares rebounded from a low of $88.22 on October 27, 2025, to an intraday high of $122.41 on February 12, 2026, after the third-quarter 2026 earnings report. The company is preparing for the holiday shipping season, targeting a 25% increase in U.S. daily volume from the third to the fourth quarter. To handle the surge, UPS plans to hire approximately 100,000 seasonal workers in the U.S., aiming to process an additional 4 million pieces per day. By focusing on higher-value packages, UPS expects to achieve better returns, moving away from a \"leaky bucket\" scenario of adding new customers while losing existing ones.",
  "summary": "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.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}