OpenNashEarnings

Transportation · NYSE: UPS

UPS earnings: results, call transcripts & KPI history

2 quarters · fiscal year ends December · next results expected around 26 Jan 2027

Investor relations ↗SEC filings ↗KPIs as CSV

Latest: Q3 2026

UPS reported third-quarter 2026 consolidated revenue of $22.9 billion, up 6.7%, with diluted EPS of $1.37 and non-GAAP adjusted diluted EPS of $1.69.

UPS grew revenue 6.7% to $22.9 billion, with growth in all three segments. Diluted EPS was $1.37 and adjusted EPS was $1.69, down from $1.74 a year earlier. The prior-year quarter included a $330M sale-leaseback gain. U.S. Domestic adjusted operating profit rose 14.3% to $1,034 M as revenue per piece (up 6.1%) outpaced cost per piece, while average daily volume fell 3.3% after deliberate Amazon volume cuts. International returned to profit growth. Supply Chain Solutions took a $182 million goodwill impairment.

Read the Q3 2026 summary →Q3 2026 slides (PDF) ↗

Quarters

KPI history

Revenue$22.9B+6.7% y/yQ3 2026
Q4 2024: $25.3B (worked out from the annual figure)Q4 ’24$25.3BQ1 2025: $21.5BQ1 ’25$21.5BQ2 2025: $21.2BQ2 ’25$21.2BQ3 2025: $21.4BQ3 ’25$21.4BQ4 2025: $24.5B (worked out from the annual figure)Q4 ’25$24.5BQ1 2026: $21.2BQ1 ’26$21.2BQ2 2026: $22.8BQ2 ’26$22.8BQ3 2026: $22.9BQ3 ’26$22.9B

Fourth quarter worked out from the annual figure.

Data
Q4 2024$25.3B *
Q1 2025$21.5B
Q2 2025$21.2B
Q3 2025$21.4B
Q4 2025$24.5B *
Q1 2026$21.2B
Q2 2026$22.8B
Q3 2026$22.9B
Diluted EPS (GAAP)$1.37−11.6% y/yQ3 2026
Q1 2025: $1.40Q1 ’25$1.40Q2 2025: $1.51Q2 ’25$1.51Q3 2025: $1.55Q3 ’25$1.55Q1 2026: $1.02Q1 ’26$1.02Q2 2026: $0.71Q2 ’26$0.71Q3 2026: $1.37Q3 ’26$1.37
Data
Q1 2025$1.40
Q2 2025$1.51
Q3 2025$1.55
Q1 2026$1.02
Q2 2026$0.71
Q3 2026$1.37

Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.

Operating margin7.6%−0.8 pts y/yQ3 2026
Q4 2024: 11.6%Q4 ’2411.6%Q1 2025: 7.7%Q1 ’257.7%Q2 2025: 8.6%Q2 ’258.6%Q3 2025: 8.4%Q3 ’258.4%Q4 2025: 10.5%Q4 ’2510.5%Q1 2026: 6.0%Q1 ’266.0%Q2 2026: 4.1%Q2 ’264.1%Q3 2026: 7.6%Q3 ’267.6%
Data
Q4 202411.6%
Q1 20257.7%
Q2 20258.6%
Q3 20258.4%
Q4 202510.5%
Q1 20266.0%
Q2 20264.1%
Q3 20267.6%
Free cash flow$2.4B+59.1% y/yQ3 2026
Q4 2024: $2.2BQ4 ’24$2.2BQ1 2025: $1.4BQ1 ’25$1.4BQ2 2025: -$775.0MQ2 ’25-$775.0MQ3 2025: $1.5BQ3 ’25$1.5BQ4 2025: $2.6BQ4 ’25$2.6BQ1 2026: $1.2BQ1 ’26$1.2BQ2 2026: $166.0MQ2 ’26$166.0MQ3 2026: $2.4BQ3 ’26$2.4B
Data
Q4 2024$2.2B
Q1 2025$1.4B
Q2 2025-$775.0M
Q3 2025$1.5B
Q4 2025$2.6B
Q1 2026$1.2B
Q2 2026$166.0M
Q3 2026$2.4B

Operating cash flow minus capital expenditure, from cash flow statements.

Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Revenue$25.3Bd$21.5B$21.2B$21.4B$24.5Bd$21.2B$22.8B$22.9B
Operating income$2.9Bd$1.7B$1.8B$1.8B$2.6Bd$1.3B$930.0M$1.7B
Operating margin11.6%7.7%8.6%8.4%10.5%6.0%4.1%7.6%
Net income$1.7Bd$1.2B$1.3B$1.3B$1.8Bd$864.0M$604.0M$1.2B
Diluted EPS—$1.40$1.51$1.55—$1.02$0.71$1.37
Operating cash flow$3.3Bd$2.3B$348.0Md$2.5Bd$3.3Bd$2.2B$859.0Md$2.9Bd
Capital expenditure$1.1Bd$876.0M$1.1Bd$970.0Md$716.0Md$1.0B$693.0Md$497.0Md
Free cash flow$2.2B$1.4B-$775.0M$1.5B$2.6B$1.2B$166.0M$2.4B

From XBRL data in 10-Q and 10-K filings. d derived: a fourth quarter is the full year minus the first nine months, and cash flows are year-to-date figures differenced.

10-Q and 10-K filings