UPS Q1 revenue falls 1.6% to $21.2 billion; diluted EPS $1.02, guidance reaffirmed
UPS reported first-quarter 2026 revenue of $21.2 billion, down 1.6% from a year earlier, and operating profit of $1.27 billion, down 23.9%. Diluted EPS was $1.02 versus $1.40 a year earlier, and the company reaffirmed its full-year 2026 targets of about $89.7 billion in revenue and a non-GAAP adjusted operating margin of about 9.6%. For shareholders, profit fell sharply in the quarter, though the outlook was held steady.
Key points
- Revenue $21.2 billion vs. $21.5 billion in Q1 2025; U.S. Domestic Package revenue fell 2.3% on lower volume
- GAAP operating profit $1.27 billion vs. $1.67 billion; non-GAAP adjusted operating profit $1.32 billion vs. $1.76 billion
- Diluted EPS $1.02 vs. $1.40 (GAAP); non-GAAP adjusted diluted EPS $1.07 vs. $1.49, including $42 million after-tax transformation charges
- 2026 guidance reaffirmed: revenue of about $89.7 billion, adjusted operating margin of about 9.6%, capital expenditures of about $3.0 billion
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:21 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 28, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.