United Parcel Service is wrapping up a years-long restructuring, which Chief Executive Carol Tomé says has structurally reset its operations.

The company has removed billions of dollars worth of costs from the business, in part by phasing out roughly half of its lower-margin Amazon volumes and focusing instead on higher-quality shipments. UPS has also cut tens of thousands of delivery-driver and warehouse-worker roles.

"We now have a leaner, more automated, more agile network that will deliver operating leverage as volume grows," Tomé said on a call with analysts Tuesday.

UPS said its restructuring efforts are bearing fruit, lifting its outlook for the year after revenue climbed in the second quarter. Profit fell sharply, though, hurt by a large after-tax charge tied to the company's workforce-reduction initiatives, as well as higher fuel costs stemming from the war in the Middle East.

Shares were recently trading 4.5% lower, at $107.82. Despite the decline, the stock is up 6.2% over the past year.

Looking ahead, UPS said it will focus on growing premium volumes, pivoting its core network strategy toward small- and medium-sized businesses, as well as healthcare and B2B customers.

The company plans to continue investing in radio frequency identification, or RFID, technology. UPS is embedding RFID tags into shipping labels and installing RFID sensors on delivery trucks--moves it said will increase visibility throughout its small-package delivery network, while also improving delivery accuracy and reducing the manual labor needed to scan individual parcels.

"These capabilities are generating rich, real-time data about the packages in our network," Tomé said. UPS is also continuing to invest in artificial intelligence, she added, which can use that real-time data to optimize planning, routing and execution.

For its three months ended June 30, UPS posted a profit of $604 million, or 71 cents a share, down from $1.28 billion, or $1.51 a share, a year earlier. Stripping out one-time costs, adjusted earnings came in at $1.76 a share, ahead of analyst views for $1.66 a share, according to FactSet.

Revenue climbed 7.6% to $22.83 billion, topping Wall Street models for $21.86 billion.

For the year, the company expects adjusted earnings of $7.22 a share, ahead of the $7.10 a share that analysts are expecting. UPS raised its revenue outlook to about $91.2 billion, from approximately $89.7 billion. Wall Street is modeling $90.43 billion.