United Parcel Service
Q3 2022 Earnings Call
Oct 25, 2022, 8:30 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good morning. My name is Stephen, and I will be your facilitator today. I would like to welcome everyone to the UPS investor relations third quarter 2022 earnings conference call. [Operator instructions] It is now my pleasure to turn the floor over to your host, Mr.
Ken Cook, investor relations officer. Sir, the floor is yours.
Ken Cook -- Investor Relations Officer
Good morning, and welcome to the UPS third quarter 2022 earnings call. Joining me today are Carol Tome, our CEO; Brian Newman, our CFO; and a few additional members of our executive leadership team. Before we begin, I want to remind you that some of the comments we'll make today are forward-looking statements within the federal securities laws and address our expectations for the future performance or operating results of our company. These statements are subject to risks and uncertainties, which are described in our 2021 Form 10-K, subsequently filed Form 10-Qs, and other reports we file with or furnish to the Securities and Exchange Commission.
These reports, when filed, are available on the UPS Investor Relations website and from the SEC. Unless stated otherwise, our discussion refers to adjusted results. For the third quarter of 2022, GAAP results include after-tax transformation and other charges of $27 million or $0.03 per diluted share. A reconciliation to GAAP financial results is available on the UPS Investor Relations website, along with the webcast of today's call.
Following our prepared remarks, we will take questions from those joining us via the teleconference. [Operator instructions] And now I'll turn the call over to Carol.
Carol Tome -- Chief Executive Officer
Thank you, Ken, and good morning. I'd like to begin by thanking all UPSers for their hard work and dedication to service. I'm proud of the unstoppable spirit of UPSers everywhere and how they leverage the agility of our global integrated network to deliver outstanding service for our customers and strong results for our shareowners. In the third quarter, the global economy softened, especially outside the United States.
International and freight forwarding volumes were challenged, but we quickly responded. We adjusted our network to match volume levels and continue to win in the most attractive parts of the market. For the third quarter, consolidated revenue rose 4.2% from last year to $24.2 billion, and operating profit grew 6% to $3.1 billion. Consolidated operating margin expanded to 13%, a 20-basis-point improvement from last year.