United Parcel Service

RANK35

Big Brown continues its reign as the leading U.S. delivery business. Pandemic-fueled demand propelled United Parcel Service eight spots higher, to No. 35, on this year’s list. UPS’s revenues rose 14.2%, to $84.6 billion, in 2020, keeping it ahead of perennial rival FedEx. But the shift in emphasis to residential over commercial parcels took a 70% bite out of profits, which declined to $1.34 billion. A bigger threat looms, as well. Amazon—a major partner, and rising competitor—is doubling down on a delivery network of its own. How the shipper’s CEO, Carol Tomé, installed on June 1, 2020, confronts this “frenemy” may prove to be the defining mark of her tenure.