“Now that we have fully onboarded this volume, we expect it to generate consistent revenue and we expect an attractive margin on a consolidated basis.”

In context

“se of 220 basis points from a year ago. Moving to Supply Chain Solutions. In the third quarter, revenue was $3.4 billion, up 8% year-over-year. Looking at the key drivers, air and ocean forwarding revenue was up 15.1%, driven by strong market demand out of Asia. Logistics delivered revenue growth driven primarily by the impact of the MNX acquisition and onboarding of USPS air cargo contributed to revenue growth in SCS. Partially offsetting these gains was weaker performance at Coyote, our truckload brokerage business and the completion of the sale in mid-September. In the third quarter, Supply Chain Solutions generated operating profit of $217 million, down $58 million year-over-year, primarily driven by our efforts to configure our air network as we onboarded the USPS air cargo business. Now that we have fully onboarded this volume, we expect it to generate consistent revenue and we expect an attractive margin on a consolidated basis. For SCS, operating margin in the third quarter was 6.4%. Walking through the rest of the income statement, we had $230 million of interest expense, our other pension income was $68 million, and our effective tax rate for the third quarter was approximately 21%. Now let's turn to cash and capital allocation. So far this year, we've generated $6.8 billion in cash from operations and free cash flow of $4 billion, including our annual pension contribution of $1.4 billion. We refinanced $1.5 billion in current maturities year-to-date, and we finished the quarter with strong liquidity and no outstanding commercial paper. So far this year, UPS has paid $4 billion in dividends. And lastly, we've completed our targeted $500 million share repurchase program in the third quarter, which brings us to”