UPS Sets Record Profits for a Year...in 9 Months | Lojistic [ ](https://www.lojistic.com)- Why Lojistic - [ All Inclusive. Zero Cost. Every Lojistic solution. No limits. No fees. ](https://www.lojistic.com/pricing) - [ All Modes. All Carriers. All Currencies. 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Zero Cost. Every Lojistic solution. No limits. No fees. ](https://www.lojistic.com/pricing) - [ All Modes. All Carriers. All Currencies. Parcel, LTL, truckload, ocean, rail, air freight. ](https://www.lojistic.com/carrier-connectors) - [ Industries Served Retail, eCommerce, 3PL, manufacturing, and more. ](https://www.lojistic.com/industries-served) - [ Roles Most Impacted & How Supply chain & logistics, procurement, finance leaders. ](https://www.lojistic.com/roles-most-impacted) - [ Use Cases How Lojistic helps manage and reduce shipping costs. ](https://www.lojistic.com/use-cases) - Platform Features - [ Global Analytics & Reporting Predictive analytics and scenario modeling for all carriers globally. ](https://www.lojistic.com/shipping-analytics-software) - [ Rate Optimization & RFPs Tech-powered data prep, strategy, and rate impact analyses. ](https://www.lojistic.com/rate-optimization-rfps) - [ Parcel and Freight Audit & Payment *+PAY* Carrier refunds and payments automated and made simple. ](https://www.lojistic.com/freight-audit-and-payment) - [ GL Coding & ERP Sync Automatically code shipping costs down to the order level ](https://www.lojistic.com/gl-coding-erp-sync) - [ Lojistic API & App Integrations Easily integrate normalized shipping data to your business systems. ](https://www.lojistic.com/api-app-integrations) - [Pricing](https://www.lojistic.com/pricing) - [About](https://www.lojistic.com/about) - [Company](https://www.lojistic.com/company) - [Culture](https://www.lojistic.com/culture) - [Careers](https://www.lojistic.com/careers) - [Partner Programs](https://www.lojistic.com/partner-programs) - [Security](https://www.lojistic.com/security) - [Media](https://www.lojistic.com/media) - [Ratings & Review](https://www.lojistic.com/reviews) - [Videos](https://www.lojistic.com/videos) - [Blog](https://www.lojistic.com/blog) - [Contact](https://www.lojistic.com/contact) [Create Free Account](https://app.lojistic.com/demo/connect-carrier?activeStep=create-account&trackDemo=false) [View Demo](https://app.lojistic.com/demo) [ Log In](https://app.lojistic.com/demo/account/login?trackDemo=false) UPS Sets Record Profits for a Year...in 9 Months ================================================ ![Icon denoting blog author information in Lojistic’s content layout](/images/pages/blog/icon-author.svg)Rich Harkey ![Calendar icon used to display blog post dates on Lojistic’s website](/images/pages/blog/icon-calendar.svg)November 04, 2021 UPS recently announced they had their most profitable year ever - and there’s still a quarter of the year remaining! In just 9 months, “UPS has generated more operating profit than any full year in our history,” according to UPS CEO Carol Tome. Let that sink in the next time you’re paying your UPS invoices. ![UPS company logo on blue background with text "UPS POSTS RECORD ANNUAL PROFITS ...IN JUST 9 MONTHS" next to stacked US hundred dollar bills, representing corporate financial success. Lojistic branding appears at bottom.](https://www.lojistic.com/assets/public/legacy/ups-record-profits.jpg) **But just because UPS is having a historically lucrative year doesn’t mean price breaks are coming any time soon for their customers.** In fact, quite the opposite. It’s only going to get ***more*** expensive to ship with UPS due to their Q4 seasonal surcharges and impending 2022 general rate increase which was just announced at 5.9%. [You can learn more about peak holiday shipping season here](https://www.lojistic.com/blog/ups-fedex-peak-holiday-shipping-2021). In 2021, UPS has earned $8.9 billion in operating income, up 58% from the same period of 2020. So why has 2021 been UPS’s most profitable year to date? [According to this article](https://www.cnn.com/2021/10/26/investing/ups-earnings-q3-2021/index.html), “prices are rising at the fastest 12-month pace since 2008, and supply chain bottlenecks plus a labor shortage are only putting more pressure on costs.” [October - December (Q4) is always the busiest - and usually the most profitable](https://www.lojistic.com/blog/ups-fedex-peak-holiday-shipping-2021) - time period for UPS. By the time 2021 is over, UPS will have set an incredibly high bar for profits. As shareholders continue to expect similar results, UPS will undoubtedly continue to find new ways to maximize their ability to make more money from their customers. One of the ways UPS plans to keep the gravy train rolling is to raise rates, once again, with a 5.9% general rate increase for 2022. So even after a year of eye-watering profits, UPS will raise their rates even MORE than they did last year (the rate increase from 2020 - 2021 was 4.9%). That means that in just two years, UPS rates will have gone up by over 10%! And while the advertised increase for 2022 is 5.9%, shippers typically end up paying much more due to [surcharges](https://www.lojistic.com/dashboards/surcharge-summary) and other accessorial fee increases. [You can download this free report with additional detail. ](https://www.lojistic.com/white-papers/general-rate-increase)Once the carriers (UPS and FedEx) release the remaining details of the [General Rate Increase (GRI)](https://www.lojistic.com/white-papers/general-rate-increase) you’ll automatically receive the 2022 version. **It’s been a great year if you’re UPS, but if you’re a business that relies on UPS - not so much.** If you’re concerned you may be overpaying for UPS’s services, [create a free Lojistic account](https://app.lojistic.com/demo/connect-carrier?activeStep=create-account&trackDemo=false) to see how much you could be saving on shipping. Lojistic’s free cost savings automation and analytics platform provides [UPS (and FedEx) shippers with a DIY path to savings](https://www.lojistic.com/freight-audit-and-payment). All you have to do is [create your free Lojistic account](https://app.lojistic.com/demo/connect-carrier?activeStep=create-account&trackDemo=false). And if you’d like additional assistance recovering credits for invoice errors, securing[ best-in-class rates](https://www.lojistic.com/rate-optimization-rfps), or [managing your carrier invoice payment process](https://www.lojistic.com/freight-audit-and-payment/parcel-audit-recovery-pay) - there are a number of ways Lojistic can help you push back against UPS’s rising costs. ![Rich Harkey Headshot](https://www.lojistic.com/assets/public/users/rich.png) Author Rich Harkey Rich Harkey Senior Strategy Manager Rich Harkey is a results-driven professional with extensive experience in the logistics and supply chain industry. As the Senior Strategy Manager at Lojistic, Rich leverages over three decades of expertise to help businesses improve their shipping strategies and reduce costs. With a deep understanding of the requirements of shippers and the operational intricacies of carriers, he excels in everything from optimizing business rules and managing carrier invoices to negotiating carrier contracts. Rich's comprehensive knowledge of the logistics industry, combined with his strategic insights and passion for data analysis, has enabled thousands of companies to gain visibility into their shipping expenses, driving impactful results. [« Previous Post](/blog/ups-fedex-dhl-invoicing-costs) [Next Post »](/blog/ups-next-day-air-residential-delivery-commitment-time-change) **Lojistic Blog** [Recent Posts](https://www.lojistic.com/blog) | [Categories](https://www.lojistic.com/blog/categories) Why Lojistic ---------------- - [All-Inclusive. Zero Cost. ](https://www.lojistic.com/pricing) - [All Modes. All Carriers. 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