UPS earnings date, guidance and results
UPS's next results are expected on October 27, 2026. Watch whether UPS delivers higher domestic profit despite lower package counts.
What has UPS guided for 2026?
UPS collects, sorts, transports and delivers parcels, or packages, so its future depends on both shipment volume and the cost of moving each package. Management’s 2026 guidance calls for revenue of $91.2 billion and adjusted operating profit of $8.65 billion. It also expects adjusted diluted earnings per share of $7.22.
UPS expects U.S. Domestic revenue of $60 billion and an adjusted operating margin of 7.5%. Management’s second-half target is approximately 8.8%, making the remaining quarters the first clear test of the smaller network. Analysts’ forecasts provide the next comparison.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Consolidated revenue | Year to Dec 2026 | 91,200 | 91,200 | Jul 28, 2026 |
| Consolidated non-GAAP adjusted operating profit | Year to Dec 2026 | 8,650 | 8,650 | Jul 28, 2026 |
| Non-GAAP adjusted diluted EPS | Year to Dec 2026 | 7.22 | 7.22 | Jul 28, 2026 |
| Free cash flow including DCP | Year to Dec 2026 | 5,500 | 5,500 | Jul 28, 2026 |
| U.S. Domestic, Revenue | Year to Dec 2026 | 60,000 | 60,000 | Jul 28, 2026 |
| U.S. Domestic, Non-GAAP adj. operating margin | Year to Dec 2026 | 7.5% | 7.5% | Jul 28, 2026 |
What this means. When Low and High are the same, it is an approximate target, not a guaranteed result.
Did UPS keep its past promises?
UPS said it completed the Amazon reduction and network changes, but second-quarter reported operating profit was US$930 million against US$2.1 billion adjusted, chiefly because of transformation charges. The final judgment is therefore mixed: management delivered the timetable, yet shareholders still bore the restructuring cost. UPS is partly on their side when incentives punish misses, but only if the company counts the full cost of keeping its promises.
What has UPS's revenue and profit done in the last eight quarters?
Operating income fell from $13,094 million in 2022 to $7,867 million in 2025. Operating margin narrowed from about 13.0% to 8.9%, showing that less revenue remained after operating costs.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 22,834 | 21,202 | 24,479 | 21,415 | 21,221 | 21,546 | 25,301 | 22,245 |
| Operating income | 930 | 1,267 | 2,575 | 1,804 | 1,822 | 1,666 | 2,926 | 1,985 |
| Net income | 604 | 864 | 1,791 | 1,311 | 1,283 | 1,187 | 1,721 | 1,539 |
| EPS, diluted | 0.71 | 1.02 | 2.10 | 1.55 | 1.51 | 1.40 | 2.01 | 1.80 |
| Cash from operations | 859 | 2,224 | 3,302 | 2,482 | 348 | 2,318 | 3,315 | 1,498 |
| − Capital spending | 693 | 1,031 | 716 | 970 | 1,123 | 876 | 1,098 | 843 |
What this means. Free cash flow can be negative even when the company reports a profit because it subtracts cash spent on equipment, buildings, and software.
What should investors watch in UPS's next results?
The next results, holiday season and aircraft investigation will test different parts of UPS’s recovery. UPS reports third-quarter results on October 27, the first full quarter after completing the Amazon reduction. Investors should look for higher domestic profit despite lower package counts and for cash rebuilding after restructuring payments.