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United Parcel (UPS) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Jul 28, 2026

Before Open (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

1.66

Last Year’s EPS

1.55

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 17 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:Apr 28, 2026|

% Change Since:

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

UPS reaffirmed full‑year 2026 guidance, calling for consolidated revenue of approximately $89.7 billion, a consolidated operating margin of about 9.6% and diluted EPS roughly flat to 2025, and said it expects consolidated revenue and operating profit growth with margin expansion in Q2. Segment guidance: U.S. Domestic revenue ~flat for the year with ADV down mid‑single digits and revenue‑per‑piece growth in the mid‑single digits, full‑year U.S. margin flat to 2025 and Q2 U.S. margin guided to 7.5%–8.5% with Q2 revenue up low‑single digits; International revenue up low‑single digits for the year with operating margin in the mid‑teens and Q2 revenue up low‑single digits with a 13%–14% margin; Supply Chain Solutions revenue up high‑single digits (including Andlauer) with operating margin in the low double‑digits and Q2 SCS revenue up low‑single digits with margin 9.5%–10.5%. Capital and cash targets: capex ≈ $3.0B, pension contribution ≈ $1.3B, free cash flow ≈ $5.5B (including one‑time Driver Choice payments) and planned dividends ≈ $5.4B (board approved). Operational targets and progress: $3.0B cost‑out for 2026, ~25 million fewer operational hours target, ~30,000 operational positions reduction goal (nearly 25,000 positions already reduced year‑over‑year; Driver Choice to reduce roughly 7,500 full‑time drivers), 23 buildings closed in Q1 with ~27 more planned, and ongoing fleet/aircraft changes (MD‑11 retirements, 767 deliveries) to reduce leased aircraft and transitional Q1 cost pressures of about $350M noted as largely behind them.

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.

United Parcel (UPS) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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UPS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 28, 2026	2026 (Q2)	1.66 / -	1.55	―	―	―
Apr 28, 2026	2026 (Q1)	1.02 / 1.07	1.49	-28.19% (-0.42)
Jan 27, 2026	2025 (Q4)	2.20 / 2.38	2.75	-13.45% (-0.37)
Oct 28, 2025	2025 (Q3)	1.29 / 1.74	1.76	-1.14% (-0.02)
Jul 29, 2025	2025 (Q2)	1.56 / 1.55	1.79	-13.41% (-0.24)
Apr 29, 2025	2025 (Q1)	1.38 / 1.49	1.43	4.20% (+0.06)
Jan 30, 2025	2024 (Q4)	2.53 / 2.75	2.47	11.34% (+0.28)
Oct 24, 2024	2024 (Q3)	1.64 / 1.76	1.57	12.10% (+0.19)
Jul 23, 2024	2024 (Q2)	1.99 / 1.79	2.54	-29.53% (-0.75)
Apr 23, 2024	2024 (Q1)	1.28 / 1.43	2.2	-35.00% (-0.77)

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	$106.44	$102.22	-3.97%
Jan 27, 2026	$103.75	$103.97	+0.21%
Oct 28, 2025	$85.06	$91.86	+8.00%
Jul 29, 2025	$95.04	$84.99	-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.