Every 10-Q that United Parcel Service, Inc. (UPS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow UPS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full UPS filings page.
United Parcel Service, Inc. reported second-quarter 2026 revenue of $22,834 million, up 7.6% year over year, as all segments contributed and average revenue per piece rose 11.3% despite a 3.7% decline in average daily package volume.
Operating expenses increased 12.9% to $21,904 million, driven mainly by $1,172 million of transformation strategy costs, including approximately $1.1 billion of separation costs for the U.S. Driver Choice Program and actions under its Network Reconfiguration and Efficiency Reimagined initiatives. Operating profit fell to $930 million, with operating margin dropping to 4.1% from 8.6%.
Net income declined to $604 million and diluted EPS to $0.71, both down over 50% from a year earlier. On a non-GAAP basis, adjusted diluted EPS was $1.76 after excluding $891 million of after-tax transformation costs. For the first six months of 2026, UPS generated $3,083 million in cash from operating activities and returned $2,708 million to shareowners via dividends while closing 45 facilities and incurring $1.8 billion of cumulative costs for its current transformation initiatives, which are expected to conclude by 2027.
United Parcel Service, Inc. reported lower first-quarter 2026 results as it reshapes its network and customer mix. Revenue was $21.2 billion, down 1.6% from a year earlier, while operating profit fell 23.9% to $1.3 billion and operating margin declined to 6.0% from 7.7%.
Net income dropped 27.2% to $864 million, with diluted earnings per share decreasing to $1.02 from $1.40. Average daily package volume in global small package operations fell 7.7%, but average revenue per piece rose 7.7% to $15.32 as UPS emphasized higher-yielding business and reduced volume from its largest customer.
UPS continued major transformation initiatives, including its Network Reconfiguration and Efficiency Reimagined programs and the new Driver Choice voluntary separation program, recording $55 million of pre-tax transformation costs in the quarter and signaling about $1.2 billion of separation costs expected in 2026. The company returned $1.4 billion to shareowners through dividends while capital expenditures reached $1.0 billion, and it maintained $5.8 billion of cash and cash equivalents on the balance sheet.
United Parcel Service (UPS) filed its Q3 2025 report, showing softer top-line results with revenue of $21,415 million versus $22,245 million a year ago. Operating profit was $1,804 million, and diluted EPS was $1.55. Year-to-date revenue was $64,182 million. Segment revenue was led by U.S. Domestic Package at $14,220 million, International Package at $4,673 million, and Supply Chain Solutions at $2,522 million.
UPS generated $5,148 million in cash from operations year-to-date, funded capital expenditures of $2,969 million, repurchased $1,000 million of common stock, and paid $4,045 million in dividends. Long-term debt and finance leases rose to $23,850 million from $19,446 million, while cash ended at $6,764 million. The company completed sale-leaseback transactions with $465 million in proceeds and recognized $362 million in gains, and sold $248 million of receivables for $246 million in cash under a new factoring program. Goodwill increased by $345 million tied to the Frigo-Trans and Biotech & Pharma Logistics acquisition. Shares outstanding were 109,395,545 Class A and 738,990,054 Class B as of October 16, 2025.
United Parcel Service, Inc. (UPS) 10-Q — Six months ended June 30, 2025 (unaudited)
Consolidated revenue for the three months ended June 30, 2025 was $21,221 million (Q2 2024: $21,818 million) and $42,767 million for the six months (2024: $43,524 million). Net income was $1,283 million in Q2 2025 (Q2 2024: $1,409 million) and $2,470 million year-to-date (2024: $2,522 million). Basic and diluted EPS for Q2 were $1.51 (Q2 2024: $1.65); YTD EPS was $2.91.
Balance sheet and cash flow highlights: total assets $70,923 million; cash and cash equivalents $6,194 million; current maturities of long-term debt and commercial paper down to $920 million; long-term debt and finance leases increased to $23,820 million (Dec 31, 2024: $19,446 million). Net cash from operating activities for the six months was $2,666 million versus $5,309 million prior year. Company completed January 2025 acquisition of Frigo-Trans (goodwill increase $339 million).