UPS produced an operating loss of $428 million in the fourth quarter of 2016, despite increasing revenue from $16.1bn to $16.9bn.
“Revenue and volume growth accelerated for UPS during the holiday season and we provided high service levels for our customers,” said chairman and chief executive David Abney.
“The International segment delivered another extraordinary performance, while the US managed through considerable changes in product mix. Our strategies and initiatives are creating long-term value for both UPS customers and shareowners.”
For the full year, revenue rose 4.4 per cent to $60.1 billion but operating profit was down 28.7 per cent to $5.5 billion.
Operating profit was down 36.7 per cent in the US domestic business, and down 47 per cent in supply chain and freight. The strongest performing sector was international packages where operating profit was down 4.4 per cent.