UPS says plans to exit the year with operating margin of 10%

Says well on the way of achieving FY24 GAAP revenue target. Says on plan to complete additional five operational closures in second half of the year. Says currently experiencing volume momentum. Says growth rate will not be as high as it was at the beginning of the year. Says plans to exit the year with operating margin of 10%. Says with pending sale of Coyote expects to have more cash. Says expects tax rate to be 22% for remainder of the year. Says domestic volume performance impacts were customers favoring more economical products and new e-commerce customers running a different model. Says expects mix to rationalize as the company moves towards the end of the year. Comments and guidance taken from Q2 earnings conference call.