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EarningsQ2 2026 Earnings Report
UPS Q2 2026 EPS Results
Actual EPS$1.76
Consensus EPS$1.66
Beat/MissBeat by +$0.10
One Year Ago EPS$1.55
UPS Q2 2026 Revenue Results
Actual Revenue$22.85B
Expected Revenue$21.86B
Beat/MissBeat by +$991.89M
YoY Revenue Growth+7.70%
Earnings Announcement Details
QuarterQ2 2026
Date07/28/2026
TimeBefore Open
Conference CallTuesday, July 28, 2026
UPS Upcoming Earnings
United Parcel's next earnings date is estimated for October 27, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
UPS Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted strong operational execution: completion of the Amazon glide down, meaningful network automation and productivity gains, solid revenue and operating profit growth, raised full-year guidance, and momentum in higher-margin businesses (SMB, DAP, health care, Supply Chain Solutions). Headwinds included one-time transformation charges, fuel volatility (with a larger impact on International margins), and year-over-year volume declines driven largely by the planned Amazon reduction and trade/tariff noise. Overall, the positive items (execution, margin expansion, guidance raise, automation, and new revenue momentum) materially outweigh the transitory challenges and one-time costs.Company Guidance
Execution of Amazon glide down and network reconfiguration
Successfully completed Amazon glide down as planned, eliminating ~2 million pieces/day of lower-quality Amazon volume, reconfiguring and automating the U.S. network, removing approximately $4.5 billion of related expense to date and expecting roughly $3.0 billion in related benefits in 2026.
Revenue and operating profit growth
Consolidated revenue of $22.8 billion, up 7.6% year-over-year; consolidated operating profit of $2.1 billion, up 12% year-over-year; consolidated operating margin 9.2%, up 40 basis points year-over-year and up 300 basis points sequentially from Q1.
Raised full-year 2026 guidance
Increased full-year outlook to ~ $91.2 billion consolidated revenue, ~ $8.65 billion consolidated operating profit and diluted EPS of ~ $7.22.
U.S. Domestic margin and profitability improvement
U.S. Domestic revenue of $14.9 billion, up 6% year-over-year; revenue per piece increased 9.3% YoY; U.S. Domestic operating profit $1.2 billion, up 21% YoY; operating margin 8.0%, up 100 basis points YoY and up 400 basis points sequentially.
Network automation and productivity gains
Automation now handles ~68.5% of U.S. volume (vs 64% a year ago); cost per piece in automated buildings ~28% lower than non-automated buildings; revenue-per-piece grew 130 basis points faster than cost-per-piece in the reconfigured U.S. network.
SMB and DAP momentum
SMB average daily volume grew 4.3% YoY and SMBs comprised 34.5% of U.S. volume (up 250 basis points YoY). Digital Access Program (DAP) generated $1.4 billion in global revenue in the quarter (third consecutive quarter > $1.0 billion); B2B DAP ADV up 34% YoY.
International top-line strength
International revenue of $5.0 billion, up 12.5% YoY; revenue per piece up 18.9% YoY driven by revenue quality improvements; Asia trade lanes showing recovery (China→U.S. returned to YoY growth beginning in May).
Supply Chain Solutions improvement
Supply Chain Solutions revenue $2.9 billion, up $207 million YoY; operating profit $291 million, up $79 million YoY; operating margin 10.2%, up 220 basis points YoY. UPS Digital (incl. Roadie and Happy Returns) revenue grew >30% YoY.
Strong cash generation and capital plan
Year-to-date cash from operations $3.1 billion and free cash flow $1.6 billion (includes one-time Driver Choice payments); ended quarter with $4.7 billion cash. Full-year expectations: capex ~ $3.0 billion, pension contribution ~$1.3 billion, free cash flow ~$5.5 billion and planned dividends ~ $5.4 billion.
Health care logistics leadership
Generated over $3.0 billion in health care revenue for the second consecutive quarter; added 27 temperature-controlled cross-dock facilities and emphasized end-to-end owned assets and RFID-enabled visibility as differentiators.
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