UPS
United Parcel Service, Inc.100.11
+0.04+0.04%
Dec 16, 4:01:15 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Quantifies H1 pressures, H2 rebound
Q&A quantified 2026's H1 pressures—$100M MD-11 lease costs, Groundsaver transition lags, and Amazon cost-outs delaying full benefits—with ~100bps domestic margin hit reversing in H2 for double-digit exits and mid-single-digit SMB/enterprise growth. Full $400-500M USPS savings slip to 2027, but automation slashes CPP 28% in upgraded facilities. International Q1 profits plunge 30% on de minimis/tariff comps, easing later via lane shifts. RFID smart fulfillment drives new commercial wins. H2 inflection looms large. Confident tone, but execution matters.
Key Stats
Market Cap
84.93BP/E (TTM)
15.47Basic EPS (TTM)
6.47Dividend Yield
0.07%Recent Filings
10-K
FY2025 results
UPS delivered $88.7B revenue in FY2025 ended December 31, 2025, down 2.6% y/y from $91.1B amid planned volume cuts from its largest customer (10.6% of revenue) and Coyote divestiture, yet revenue per piece rose 6.6% to $14.50 on better mix. Average daily volume fell 7.0% to 20.8M packages, but Network Reconfiguration saved ~$3.5B; Q4 saw full USPS air cargo onboarding and MD-11 retirement ($182M charge). Operating profit dipped 7.1% to $7.9B (8.9% margin), operating cash flow $8.5B; returned $6.4B to shareholders via $5.4B dividends ($6.56/share) and $1.0B buybacks. Debt rose to $24.1B; $5.9B cash. Q4 momentum mixed—U.S. Domestic revenue -1.4% y/y on 8.6% volume drop (Ground -8.1%), offset by 7.1% revenue/piece—but International grew 3.4% on 2.5% volume. Strikes could halt quarterly momentum.
8-K
UPS director eyes Fed Chair
8-K
UPS Q4 revenues $24.5B, margin 11.8%
UPS posted Q4 2025 revenues of $24.5B, down 3.2% from prior year amid volume drops, yet non-GAAP adjusted operating margin hit 11.8% thanks to 8.3% U.S. revenue-per-piece growth. Fleet modernization accelerated with full MD-11 retirement, booking $182M impairment. Guidance eyes $89.7B revenue and 9.6% adjusted margin in 2026 post-Amazon glide-down. Savings ramp.
10-Q
Q3 FY2025 results
UPS revenue dipped 3.7% y/y to $21.4B in Q3 ended September 30, 2025, with operating profit off 9.1% to $1.8B (8.4% margin) as U.S. Domestic Package volume fell 12.3% y/y from strategic customer cuts and Ground Saver insourcing, yet revenue per piece rose 9.8% y/y. International Package grew 5.9% y/y on 4.8% volume gains, but margins slipped to 14.5% amid trade policy shifts. Supply Chain Solutions revenue plunged 22.1% y/y post-Coyote divestiture, offset by $330M sale-leaseback gains. Cash swelled to $6.8B, operating cash flow hit $5.1B YTD (FCF $2.2B derived), long-term debt climbed to $23.9B after $4.2B issuances; Frigo-Trans closed January 2025 for $484M (cash), adding $345M goodwill. Significant competition pressures local, regional, national, and international routes.
8-K
UPS Q3 revenue $21.4B
UPS posted Q3 revenues of $21.4B, down 3.7% from last year, with GAAP operating margin at 8.4% and adjusted 10.0%. U.S. Domestic volume plunged 12.3% yet revenue per piece rose 9.8%; International grew 5.9% on 4.8% volume gains, while Supply Chain Solutions dropped 22.1% post-Coyote divestiture. A $330M sale-leaseback gain boosted EPS by $0.30. Q4 revenue guidance: ~$24B; margins 11.0-11.5%. Transformation costs persist.
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