United Parcel (UPS)
NYSE:UPS
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Earnings Data
Report Date
Jul 28, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.64Last Year’s EPS
1.55Same Quarter Last Year
Moderate Buy
Based on 18 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted meaningful strategic progress: strong revenue quality gains, tangible cost-out actions (on track for $3 billion), automation-driven productivity improvements, and validated full-year guidance. These positive developments were offset by significant but described-as-transitional cost pressures (~$350 million), double-digit increases in cost per piece, and volume declines tied to the Amazon glide-down and trade-lane shifts. Management framed the negatives as temporary and outlined clear operational actions and timing (completion by end of June) that should enable margin inflection in the back half of 2026. Given the breadth of strategic wins, profitable growth initiatives (health care, SMB/B2B, DAP), and reaffirmed guidance, the highlights materially outweigh the lowlights.Company Guidance
Consolidated Q1 Financial Results
Consolidated revenue of $21.2 billion, operating profit of $1.3 billion, operating margin of 6.2%, and diluted EPS of $1.07 (adjusted results discussed; GAAP includes after-tax transformation charges of $42 million or $0.05 per diluted share).
Full-Year Guidance Reaffirmed
Reaffirmed 2026 consolidated targets: revenue of approximately $89.7 billion and consolidated operating margin of approximately 9.6%; diluted EPS expected to be about flat to 2025.
Progress on Amazon Glide-Down and Network Reconfiguration
Further reduced non-nutritive Amazon volume by ~500,000 pieces per day, closed 23 buildings in Q1, Amazon now represents 8.8% of revenue (down from >13%), and management expects the glide-down and reconfiguration to finish by end of June 2026.
On Track for $3 Billion Cost-Out
Company reiterated it is firmly on track to achieve $3.0 billion of targeted cost savings in 2026 via reductions in operational positions, building closures and other network actions.
Revenue-Per-Piece and Mix Improvement in U.S.
U.S. revenue per piece rose 6.5% year-over-year (driven by base rates/package characteristics +340 bps, customer/product mix +200 bps, fuel +110 bps); SMB average daily volume increased 1.6% and SMB penetration reached 34.5% (highest ever).
Supply Chain Solutions Profitability Improvement
Supply Chain Solutions revenue of $2.5 billion (down $176 million YoY) but operating profit doubled to $206 million (up $108 million YoY) and operating margin rose to 8.1% (up 450 bps). UPS Digital (Roadie/Happy Returns) revenue up 19.9% YoY.
International Top-Line Momentum and Health Care Strength
International revenue increased $167 million (+3.8% YoY) to $4.5 billion; global health care business generated its first $3 billion revenue quarter ever and has gained market share since 2021.
Operational and Workforce Reductions
Reduced operational positions by nearly 25,000 Y/Y and on track for a 25 million operational hours reduction; Driver Choice voluntary program will reduce roughly 7,500 full-time driver positions (program oversubscribed, accepted ~7,500).
Cash Flow and Capital Allocation
Generated $2.2 billion cash from operations in Q1; full-year expectations include ~$3.0 billion capex, ~$1.3 billion pension contribution, approximately $5.5 billion free cash flow (incl. one-time Driver Choice payments) and planned dividends of ~$5.4 billion (subject to Board approval).
Network Automation and Productivity
Automated 67.5% of hubs (approaching 68%); automated buildings have ~28% lower cost per piece versus non-automated buildings, supporting margin improvement potential as automation scales.
UPS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
UPS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 28, 2026 | $108.24 | $103.94 | -3.97% |
Jan 27, 2026 | $105.50 | $105.72 | +0.22% |
Oct 28, 2025 | $86.49 | $93.41 | +8.00% |
Jul 29, 2025 | $96.64 | $86.43 | -10.57% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does United Parcel (UPS) report earnings?
United Parcel (UPS) is schdueled to report earning on Jul 28, 2026, Before Open (Confirmed).
What is United Parcel (UPS) earnings time?
United Parcel (UPS) earnings time is at Jul 28, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is UPS EPS forecast?
UPS EPS forecast for the fiscal quarter 2026 (Q2) is 1.64.
