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United Parcel Service, Inc. UPS Q2 2026 earnings

Reported July 28, 2026 · Before market open

Revenue$22.8BBeat by $975.9M
EPS$1.76Beat by $0.11
Revenue estimate$21.9B
EPS estimate$1.65
“I want to thank all UPSers for their extraordinary work over the past 18 months as we successfully completed our Amazon glide down and related network reconfiguration initiatives as designed”
Carol Tom

Next report

Oct 27, 2026 (In 3 weeks)
Revenue estimate$22.1B
EPS estimate$1.64

Financials

Q2 2026

Income statement

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Revenue$22.8B+7.6%
Operating income$930.0M-49.0%
Net income$604.0M-52.9%
EPS (diluted)$0.71-53.0%

Balance sheet

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Cash & equivalents$4.7B-24.9%
Total debt$29.9B+537%
Total equity$15.1B-4.3%
Total assets$71.3B+0.5%

Cash flow

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Operating cash flow$859.0M+147%
CapEx$693.0M-38.3%
Free cash flow$166.0M—

Valuation & ratios

Valuation

as of 10/02/26
See full
Market cap$79.88B+10.1%
Enterprise value$105.09B+48.4%
P/E17.5×+4.3×
P/S0.9×+0.1×

Profitability

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Operating margin7.3%-2.0pp
Net margin5.1%-1.3pp
FCF margin6.1%—

Returns & leverage

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Return on equity29.7%-5.3pp
Debt / equity2×+1.7×
Current ratio1.2×-0.1×

Segments

By product

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Ground$10.9B+4.0%
Export$4.0B+13.7%
Next Day Air$2.6B+12.4%
Logistics$1.5B+4.3%
Deferred$1.1B+7.6%

By segment

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Supply Chain Solutions ("SCS")$2.9B+7.8%

By geography

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International$5.0B+12.5%

FAQ

When did United Parcel Service, Inc. report Q2 2026 earnings?
United Parcel Service, Inc. (UPS) reported Q2 2026 earnings on July 28, 2026 before market open.
What were United Parcel Service, Inc.'s Q2 2026 revenue and EPS?
United Parcel Service, Inc. reported revenue of $22.8B and eps of $1.76 for Q2 2026.
Did United Parcel Service, Inc. beat estimates in Q2 2026?
Revenue beat the consensus estimate of $21.9B by $975.9M. EPS beat the consensus estimate of $1.65 by $0.11.
How did United Parcel Service, Inc.'s Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 7.6% from $21.2B a year earlier and eps grew 13.5% from $1.55.
Where can I find United Parcel Service, Inc.'s Q2 2026 SEC filings?
You can read the 8-K earnings release (0001628280-26-049912) and the 10-Q periodic report (0001628280-26-053249) directly on SEC EDGAR. The filing index links above go to sec.gov.