Jun 2026 (Q2 FY26) — Jul 28, 2026
United Parcel Service, Inc. Q2 FY26 — Amazon Glide Down Completed, Full-Year Outlook Raised
Read the full callUnited Parcel Service (UPS) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
United Parcel Service earnings: last reported Tue, 28 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 22,834 | +7.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 4.1 | −4.5 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 604 | −52.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
35 of 41 judged targets kept · 55 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| 2026 operational position reduction | 30,000 operational positions this year | Mar 2026 | we finished down nearly 30,000 operational positions compared to the first half of last year | Achieved |
| International Q2 FY26 operating margin | between 13% and 14% | Mar 2026 | International operating margin in the second quarter was 12.4%, which includes a 120 basis point year-over-year negative impact from fuel. | Missed |
| Full-year 2026 consolidated revenue | approximately $89.7 billion | Mar 2026 | today, we are raising our full year 2026 consolidated revenue outlook to approximately $91.2 billion | Revised Up |
6 of UNITED PARCEL SERVICE INC's 96 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 93 more targets are in the full ledger.
Claimed
- Consolidated revenue increased 7.6% year-over-year to $22.8 billion.
- Consolidated operating profit increased 12% year-over-year to $2.1 billion.
- U.S. Domestic operating profit grew over 20% year-over-year to $1.2 billion.
- SMB average daily volume (ADV) increased 4.3% year-over-year.
- Full-year 2026 consolidated revenue outlook raised to approximately $91.2 billion.
Qualified
- International operating profit decreased $59 million year-over-year to $623 million, impacted by fuel price volatility and Middle East conflict.
- Total U.S. average daily volume was down 3.3% year-over-year.
- International average daily volume declined 5.8% year-over-year, led by domestic declines in Europe.
Price
$97.46 −0.02% · −$0.02
Performance +12.8% 1Y
1Y: $86.41 on 17 Oct 2025 → $97.46. High $120 (11 Feb 2026), low $86.41 (17 Oct 2025).
- Previous close
- $97.48
- 52-week range
- $86.91 – $120
- One year
- +12.14%
Overview
- Symbol
- UPS
- Sector
- Industrials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
35 of 41 judged targets kept · 55 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| 2026 operational position reduction | 30,000 operational positions this year | Mar 2026 | we finished down nearly 30,000 operational positions compared to the first half of last year | Achieved |
| International Q2 FY26 operating margin | between 13% and 14% | Mar 2026 | International operating margin in the second quarter was 12.4%, which includes a 120 basis point year-over-year negative impact from fuel. | Missed |
| Full-year 2026 consolidated revenue | approximately $89.7 billion | Mar 2026 | today, we are raising our full year 2026 consolidated revenue outlook to approximately $91.2 billion | Revised Up |
Claimed
- Consolidated revenue increased 7.6% year-over-year to $22.8 billion.
- Consolidated operating profit increased 12% year-over-year to $2.1 billion.
- U.S. Domestic operating profit grew over 20% year-over-year to $1.2 billion.
- SMB average daily volume (ADV) increased 4.3% year-over-year.
- Full-year 2026 consolidated revenue outlook raised to approximately $91.2 billion.
Qualified
- International operating profit decreased $59 million year-over-year to $623 million, impacted by fuel price volatility and Middle East conflict.
- Total U.S. average daily volume was down 3.3% year-over-year.
- International average daily volume declined 5.8% year-over-year, led by domestic declines in Europe.
The full ledger
Open UNITED PARCEL SERVICE INC’s full ledger
A free account opens 5 company ledgers a month. All 96 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 28, 2026
United Parcel Service, Inc. Q1 FY26 — Strategic Transition Drives Premium Mix and Cost-Out Progress
Read the full callEvery analysed call
United Parcel Service earnings calls (UPS)
Financials
What the filings say
Net profit, year on year: −53% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 22,245 | 25,301 | 21,546 | 21,221 | 21,415 | 24,479 | 21,202 | 22,834 |
| Expenses | 20,260 | 22,375 | 19,880 | 19,399 | 19,611 | 21,904 | 19,935 | 21,904 |
| Operating profit | 1,985 | 2,926 | 1,666 | 1,822 | 1,804 | 2,575 | 1,267 | 930 |
| Operating margin | 8.9% | 11.6% | 7.7% | 8.6% | 8.4% | 10.5% | 6.0% | 4.1% |
| Other income | -75 | -799 | -143 | -160 | -197 | -203 | -143 | -169 |
| Interest | 230 | 229 | 222 | 238 | 291 | 266 | 266 | 272 |
| Profit before tax | 1,910 | 2,127 | 1,523 | 1,662 | 1,607 | 2,372 | 1,124 | 761 |
| Tax rate | 19.4% | 19.1% | 22.1% | 22.8% | 18.4% | 24.5% | 23.1% | 20.6% |
| Net profit | 1,539 | 1,721 | 1,187 | 1,283 | — | 1,791 | 864 | 604 |
| EPS ($ per share) | 1.80 | — | 1.40 | 1.51 | 1.55 | — | 1.02 | 0.71 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Reserves | 8,006 | 9,105 | 6,896 | 16,179 | 21,326 | 21,055 | 20,882 | 20,151 |
| Total liabilities | 46,979 | 54,574 | 61,739 | 55,136 | 51,321 | 53,543 | 53,327 | 56,835 |
| Fixed assets | 26,576 | 30,482 | 32,254 | 33,475 | 34,719 | 36,945 | 37,179 | 37,731 |
| Investments | 810 | 503 | 406 | 338 | 1,993 | 2,866 | 206 | — |
| Total assets | 50,016 | 57,857 | 62,408 | 69,405 | 71,124 | 70,857 | 70,070 | 73,090 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 12,711 | 8,639 | 10,459 | 15,007 | 14,104 | 10,238 | 10,122 | 8,450 |
| Cash from investing | -6,330 | -6,061 | -5,283 | -3,818 | -7,472 | -7,133 | -217 | -4,735 |
| Cash from financing | -5,692 | -1,727 | -4,517 | -6,823 | -11,185 | -5,534 | -6,850 | -4,141 |
| Net cash flow | 598 | 871 | 672 | 4,345 | -4,653 | -2,396 | 2,906 | -225 |
| Capital expenditure | -6,283 | -6,380 | -5,412 | -4,194 | -4,769 | -5,158 | -3,909 | -3,685 |
| Free cash flow | 6,428 | 2,259 | 5,047 | 10,813 | 9,335 | 5,080 | 6,213 | 4,765 |
UPS revenue by segment
Supply Chain Solutions shrank from 15% to 13% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| U S Domestic Package | — | — | 67% | 66% | 66% | 68% | 67% | 65% | +6.0% |
| International | — | — | 20% | 21% | 22% | 21% | 21% | 22% | +12.5% |
| Supply Chain Solutions | 15% | 11% | 13% | 13% | 12% | — | 12% | 13% | +7.8% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
UPS operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| B2B volume penetration US | 45.2%Looking at B2B, while average daily volume was down 5.1% year-over-year, it represented 45.2% of our total US volume which was a 140 basis point improvement versus the first quarter of last year and was our highest first quarter B2B penetration in 6 years.Source: earnings call transcript | 43.8%In the second quarter, B2B represented 43.8% of our total US volume.Source: earnings call transcript | -1.4 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- US 131% ↑ 1 pt
- Non Us 44% ↑ 5 pt
As UPS cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
37 filings between Jan 26, 2026 and May 15, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$2.66M
3 sales by 1 insider
Compensation
not trading decisions- 16
- Option exercise — converted options into shares
- 16
- Tax withheld — shares kept back by the company to cover tax
Also filed: 2 other filings.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Brothers Norman M. Jr | — | $2.66M | Jan 28, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| May 15, 2026 | Brothers Norman M. Jr Chief Legal & Compliance Off | Tax withheld | 1,116 | $112.5K |
| May 15, 2026 | Brothers Norman M. Jr Chief Legal & Compliance Off | Option exercise | 2,505 | $0 |
| May 15, 2026 | Ford Darrell L Chief Human Resources Officer | Option exercise | 2,174 | $0 |
| May 15, 2026 | Ford Darrell L Chief Human Resources Officer | Tax withheld | 969 | $97.7K |
| May 15, 2026 | Cesarone Nando President, US Operations | Option exercise | 3,552 | $0 |
| May 15, 2026 | Cesarone Nando President, US Operations | Tax withheld | 1,582 | $159.4K |
| May 15, 2026 | Dykes Brian M Chief Financial Officer | Option exercise | 3,138 | $0 |
| May 15, 2026 | Dykes Brian M Chief Financial Officer | Tax withheld | 1,398 | $140.9K |
| May 15, 2026 | Guffey Matthew W CHF Commercial & Strategy Off | Option exercise | 2,668 | $0 |
| May 15, 2026 | Guffey Matthew W CHF Commercial & Strategy Off | Tax withheld | 1,189 | $119.8K |
| May 15, 2026 | Gutmann Kathleen M. Pres Intl, Healthcare and SCS | Option exercise | 3,552 | $0 |
| May 15, 2026 | Gutmann Kathleen M. Pres Intl, Healthcare and SCS | Tax withheld | 1,582 | $159.4K |
| May 15, 2026 | Subramanian Bala Chief Digital & Tech Officer | Option exercise | 3,086 | $0 |
| May 15, 2026 | Subramanian Bala Chief Digital & Tech Officer | Tax withheld | 1,027 | $103.5K |
| Feb 13, 2026 | Brothers Norman M. Jr Chief Legal & Compliance Off | Option exercise | 1,250 | $0 |
| Feb 13, 2026 | Brothers Norman M. Jr Chief Legal & Compliance Off | Tax withheld | 617 | $61.2K |
| Feb 13, 2026 | Cesarone Nando President, US Operations | Option exercise | 1,831 | $0 |
| Feb 13, 2026 | Cesarone Nando President, US Operations | Tax withheld | 871 | $86.4K |
| Feb 13, 2026 | Dykes Brian M Chief Financial Officer | Option exercise | 499 | $0 |
| Feb 13, 2026 | Dykes Brian M Chief Financial Officer | Tax withheld | 249 | $24.7K |
| Feb 13, 2026 | Ford Darrell L Chief Human Resources Officer | Option exercise | 1,187 | $0 |
| Feb 13, 2026 | Ford Darrell L Chief Human Resources Officer | Tax withheld | 592 | $58.7K |
| Feb 13, 2026 | Guffey Matthew W CHF Commercial & Strategy Off | Option exercise | 439 | $0 |
| Feb 13, 2026 | Guffey Matthew W CHF Commercial & Strategy Off | Tax withheld | 196 | $19.4K |
| Feb 13, 2026 | Gutmann Kathleen M. Pres Intl, Healthcare and SCS | Option exercise | 1,831 | $0 |
| Feb 13, 2026 | Gutmann Kathleen M. Pres Intl, Healthcare and SCS | Tax withheld | 872 | $86.5K |
| Feb 13, 2026 | Subramanian Bala Chief Digital & Tech Officer | Option exercise | 1,676 | $0 |
| Feb 13, 2026 | Subramanian Bala Chief Digital & Tech Officer | Tax withheld | 470 | $46.6K |
| Feb 13, 2026 | TOME CAROL B Chief Executive Officer | Option exercise | 7,790 | $0 |
| Feb 13, 2026 | TOME CAROL B Chief Executive Officer | Tax withheld | 2,331 | $231.2K |
| Feb 2, 2026 | Guffey Matthew W CHF Commercial & Strategy Off | Tax withheld | 1,463 | $155.5K |
| Feb 2, 2026 | Guffey Matthew W CHF Commercial & Strategy Off | Option exercise | 3,147 | $0 |
| Jan 28, 2026 | Brothers Norman M. Jr Chief Legal & Compliance Off | Sale | 388 | $41.8K |
| Jan 28, 2026 | Brothers Norman M. Jr Chief Legal & Compliance Off | Sale | 21,385 | $2.27M |
| Jan 28, 2026 | Brothers Norman M. Jr Chief Legal & Compliance Off | Sale | 3,241 | $345.7K |
| Jan 26, 2026 | Brothers Norman M. Jr Chief Legal & Compliance Off | Other | 25,014 | $0 |
| Jan 26, 2026 | Brothers Norman M. Jr Chief Legal & Compliance Off | Other | 25,014 | $0 |
| Aug 22, 2025 | Shi Christiana Smith Director | Purchase | 500 | $44.1K |
| Aug 1, 2025 | TOME CAROL B Chief Executive Officer | Purchase | 11,682 | $1.00M |
| Jul 31, 2025 | JOHNSON WILLIAM R Director | Purchase | 5,000 | $432.5K |
| Mar 24, 2025 | Dykes Brian M EVP & Chief Financial Officer | Tax withheld | 1,181 | $135.9K |
| Mar 24, 2025 | Dykes Brian M EVP & Chief Financial Officer | Option exercise | 2,639 | $0 |
| Feb 14, 2025 | Gutmann Kathleen M. Pres Intl, Healthcare and SCS | Option exercise | 7,430 | $0 |
| Feb 14, 2025 | Gutmann Kathleen M. Pres Intl, Healthcare and SCS | Tax withheld | 2,252 | $284.0K |
| Feb 14, 2025 | Subramanian Bala Chief Digital & Tech Officer | Option exercise | 7,773 | $0 |
| Feb 14, 2025 | Subramanian Bala Chief Digital & Tech Officer | Tax withheld | 3,104 | $391.4K |
| Feb 14, 2025 | TOME CAROL B Chief Executive Officer | Option exercise | 24,930 | $0 |
| Feb 14, 2025 | TOME CAROL B Chief Executive Officer | Tax withheld | 9,984 | $1.26M |
| Feb 14, 2025 | Dykes Brian M EVP & Chief Financial Officer | Tax withheld | 778 | $98.1K |
| Feb 14, 2025 | Brothers Norman M. Jr Chief Legal & Compliance Off | Option exercise | 5,023 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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