United Parcel Service posted third-quarter results that handily beat Wall Street’s expectations and gave details about its turnaround efforts, including approximately 34,000 job cuts.

UPS earned $1.31 billion, or $1.55 per share, for the three months ended Sept. 30.

The Atlanta-based company earned $1.99 billion, or $1.80 per share, a year earlier. Removing one-time costs, earnings were $1.74 per share.

That easily topped the $1.31 per share for which analysts polled by Zacks Investment Research were calling.

Revenue totaled $21.42 billion, surpassing Wall Street’s estimate of $20.84 billion.

UPS said in a regulatory filing that it has cut about 34,000 positions and closed daily operations at 93 leased and owned buildings during the first nine months of this year as part of its turnaround plan. The company said it is still looking to identify additional buildings to close.

In April, UPS announced it was looking to slash about 20,000 jobs and close more than 70 facilities as it drastically reduces the number of Amazon shipments it handles. At the time, the company said it anticipated closing 73 leased and owned buildings by the end of June. The company noted it still was reviewing its network and might identify more buildings to be shuttered.

In January, UPS announced it had reached a deal with Amazon, its biggest customer, to lower its volume by more than 50 percent by the second half of 2026.

During UPS’s fourth-quarter earnings conference call in January, CEO Carol Tomé said the company had partnered with Amazon for almost 30 years and that when its contract came up this year, UPS decided to reassess the relationship.

UPS has realized cost savings of approximately $2.2 billion as of Sept. 30. It anticipates achieving $3.5 billion total year-over-year cost savings in 2025.