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United Parcel Service, Inc.

Q2 FY26Air Freight and Logistics

United Parcel Service, Inc. Q2 FY26 Results — Earnings Call Analysis

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹107
Market cap₹90.7K Cr
P/E16.5
Updated29 May 2026
Read4 min read

What the Q2 FY26 call signalled

1 of 3 strong

RevenueSlow growth
MarginMargins steady
CapexCapex planned

The short version

- Full-year 2026 consolidated revenue expected to be approximately $89.7 billion, with operating margin around 9.6%. - UPS reaffirms full-year 2026 consolidated financial targets: - Revenue: approx.

From United Parcel Service, Inc.'s Q2 FY26 earnings-call transcript · updated 29 May 2026.

Revenue & Sales Performance

Slow growth
  • Full-year 2026 consolidated revenue expected to be approximately $89.7 billion, with operating margin around 9.6%. (Page 4)
  • U.S. domestic: Full-year revenue expected to be flat year-over-year; average daily volume (ADV) down mid-single digits due to Amazon glidedown, offset by mid-single digit revenue per piece growth. (Page 4)
  • International: Full-year revenue expected to grow low single digits, driven by solid revenue per piece increases; international volume trends improving as trade lanes normalize. (Pages 3,10,12)
  • Supply Chain Solutions: Revenue expected to increase high single digits in 2026, supported by acquisitions and segment growth. (Page 4)
  • Premium segments (SMB, B2B, health care) are growth areas, with increasing market share and revenue per piece gains. (Pages 3,6,12)
  • Health care segment shows strong double-digit operating margins and is a key growth engine globally. (Pages 2,6,12)

2 more points from United Parcel Service, Inc.'s call on revenue

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Profitability & Margins

See what United Parcel Service, Inc. said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex planned
  • Capital expenditures for 2026 are expected to be about $3 billion.
  • Ongoing investments in automation and robotic deployments to enhance network productivity and agility.
  • Network expansions including:
  • Major expansion of the Incheon airport hub in South Korea.
  • Largest and most advanced logistics center opened in Taiwan.
  • Investments to support premium volume growth in U.S. and international markets, especially in SMB, B2B, and health care sectors.
  • Continued replacement and upgrades of aircraft fleet, specifically replacing MD11 capacity with 767 deliveries.

2 more points from United Parcel Service, Inc.'s call on capex

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Fundraising & Capital Structure

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Order Book & Pipeline

Relevant insights related to business volume and contracts include: - The company has completed a significant Amazon glide down initiative, targeting a 50% reduction in volume delivered for Amazon by June 2026. - Transition to outsourcing part of ground delivery to USPS is ramping up, with gradual volume tendered: about 977,000 ADV (44% of ground paper product) in Q1 and ~1.5 million expected in Q2.

2 more points from United Parcel Service, Inc.'s call on order book

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Frequently Asked Questions

What were United Parcel Service, Inc. Q2 FY26 results?

- Full-year 2026 consolidated revenue expected to be approximately $89.7 billion, with operating margin around 9.6%. - UPS reaffirms full-year 2026 consolidated financial targets: - Revenue: approx.

What is United Parcel Service, Inc. share price analysis?

United Parcel Service, Inc. currently shows a neutral. The stock trades at a P/E of 16.5 with a market cap of $90,670. Investors should review the full earnings analysis for detailed insights.

Is United Parcel Service, Inc. planning capital expenditure?

- Capital expenditures for 2026 are expected to be about $3 billion.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.