UPS reported second-quarter 2026 consolidated revenue of $22.8 billion and GAAP diluted EPS of $0.71, while non-GAAP adjusted diluted EPS was $1.76. The company recorded GAAP consolidated operating profit of $930 million and non-GAAP adjusted consolidated operating profit of $2.1 billion, with non-GAAP adjusted operating margin of 9.2%. UPS raised its full-year 2026 guidance to approximately $91.2 billion in revenue and non-GAAP adjusted diluted EPS of about $7.22.

Financial Highlights

  • Consolidated revenue: $22.8 billion for Q2 2026.
  • Operating profit (GAAP): $930 million; Non-GAAP adjusted operating profit: $2.1 billion.
  • Operating margin (GAAP): 4.1%; Non-GAAP adjusted consolidated operating margin: 9.2%.
  • Net income (GAAP): $604 million; Diluted EPS (GAAP): $0.71; Non-GAAP adjusted diluted EPS: $1.76.
  • Updated full-year 2026 guidance: consolidated revenue ~ $91.2 billion; non-GAAP adjusted operating profit ~ $8.65 billion; non-GAAP adjusted diluted EPS ~ $7.22. Expected capital expenditures ~ $3.0 billion and dividends ~ $5.4 billion (subject to board approval).

Business Highlights

  • U.S. Domestic segment revenue grew to $14,930 million, a 6.0% increase year-over-year driven by a 9.3% rise in revenue per piece; GAAP operating margin in the segment was 0.1% and non-GAAP adjusted margin was 8.0%.
  • International segment revenue increased 12.5% to $5,044 million, driven by an 18.9% increase in revenue per piece; both GAAP and non-GAAP adjusted operating margin were 12.4%.
  • Supply Chain Solutions revenue rose 7.8% to $2,860 million, with operating margin of 10.2% on both GAAP and non-GAAP adjusted bases; growth led by forwarding and logistics including healthcare.
  • Company completed major network reconfiguration and the Amazon glide down, delivering expected volume declines and related network changes; Transformation initiatives produced approximately $1.2 billion of program benefits in first half of 2026 and are expected to yield about $3.0 billion for full year 2026.
  • Transformation-related actions (including the Driver Choice Program) resulted in significant workforce reductions and associated charges; GAAP results included after-tax transformation charges of $891 million in Q2 2026, driven primarily by employee separation costs.

Original SEC Filing:

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