UPS Lifts 2026 Outlook on Q2 Revenue and Non-GAAP Profit Gains
UPS sits 41% above its 52-week low of $82.
Summary
UPS posted Q2 2026 revenue of $22.8B (+7.6% YoY) and non-GAAP adjusted diluted EPS of $1.76, beating expectations and raising full-year guidance across revenue, operating profit, and EPS.
Key Events · Earnings and Guidance · UPS
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Q2 Revenue and Non-GAAP Profit Growth
Consolidated revenue rose 7.6% to $22.8B, while non-GAAP adjusted operating profit climbed 12% to $2.1B. Non-GAAP adjusted diluted EPS reached $1.76, up from $1.55 a year ago.
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Full-Year Guidance Raised
Reflecting strong second-half momentum, UPS raised its 2026 outlook: revenue to ~$91.2B, non-GAAP adjusted operating profit to ~$8.65B, and non-GAAP adjusted diluted EPS to ~$7.22.
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Transformation Charges Weigh on GAAP Results
GAAP results included $1.2B in after-tax transformation charges ($1.05 per share), primarily from the Driver Choice Program workforce reductions, causing GAAP diluted EPS to fall to $0.71 from $1.51.
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U.S. Domestic Segment Pricing Strength
U.S. Domestic revenue increased 6.0% on a 9.3% increase in revenue per piece, offsetting a 3.3% volume decline. Non-GAAP adjusted operating margin expanded to 8.0% from 7.0%.
Analysis · UPS · Energy & Transportation
A strong second quarter saw consolidated revenue climb 7.6% to $22.8 billion and non-GAAP adjusted operating profit rise 12% to $2.1 billion, fueled by pricing improvements across all segments. Management responded by raising full-year guidance for revenue, non-GAAP adjusted operating profit, and non-GAAP adjusted diluted EPS, signaling confidence in the second half. While GAAP results were pressured by $1.2 billion in transformation charges tied to the Driver Choice Program, the underlying business momentum and upgraded outlook are the key takeaways for investors.
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In the 30 days to Sep 11, 2026, 36.1% of the 1758 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.05%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, UPS was trading at $115.50 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $96B. The 52-week trading range was $82.00 to $122.41. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.