United Parcel Service, Inc. earnings overview

UPS FY2026 Q1 · Calendar Q2 2026

United Parcel Service, Inc.

UPS delivered a solid start to fiscal 2026, with Q1 revenue of $21.2B and a 6.2% operating margin that exceeded internal plans. EPS of $1.07 beat the $1.02 consensus by 4.9%, and revenue of $21.2B surpassed the $20.9B estimate by 1.0%. The company is mid-transition: reducing lower-margin Amazon volume, reconfiguring its delivery network, and shifting toward premium SMB, B2B, and healthcare logistics customers. Despite the beat, the stock fell 3.5% on the report day on 2.6x baseline volume, reflecting investor caution about transitional costs, fuel headwinds, and the visibility of margin recovery through the remainder of the year. Management reaffirmed full-year guidance of $89.7B revenue and 9.6% operating margin, signaling confidence that cost savings will accelerate as the Amazon glide-down completes by mid-year. The bullish score rose to 80 from 70 in the prior quarter, and…