The company said that during the last three months of 2020 consolidated revenue increased to US$24.9 billion, a 21 per cent increase from the same period 2019.
Adjusted net income was $2.3 billion, 26.4 per cent above the same period in 2019, while the adjusted operating profit was $2.3 billion, up 7.4 per cent on a year earlier.
The company's best-performing sector was the US Domestic Segment, which posted a 17.4 per cent year-on-year revenue increase to $15.8 billion. Adjusted operating profit increased 16.1 per cent to $1.2 billion.
This outcome was 'led by growth from small- and medium-sized businesses', the company said.
UPS' International Segment achieved a 26.8 per cent year-on-year increase in revenues, 'led by Asia and Europe', to $4.8 billion. It also achieved a 43.6 per cent year-on-year increase in adjusted operating profit to $1.1 billion.
The company's Supply Chain and Freight Segment posted a 29 per cent year-on-year revenue increase to $4.4 billion. It also posted a 26.3 per cent year-on-year increase in adjusted operating profit, to $331 million.
For the full year of 2020, UPS achieved a 14.2 per cent year-on-year increase in revenue to $84.6 billion and a 7 per cent increase in adjusted operating profit to $8.7 billion, reports London's Air Cargo News.
Carol Tome, chief executive of UPS, commented: 'Our financial performance in the fourth quarter exceeded our expectations. During the fourth quarter, we began transporting Covid-19 vaccines and we stand ready to deliver hope and health to people around the world.'