United Parcel Service, Inc. Q3 2026 Earnings Recap

UPS rose 5.8% after reporting third-quarter revenue growth across all three segments and a return to year-over-year operating profit growth in International. U.S. Domestic operating profit also grew, though the transcript provides no comparison with market expectations.

Key Takeaways

• Consolidated revenue was $22.9 billion, up 6.7% year over year; consolidated operating profit was $2.1 billion.
• U.S. Domestic operating profit increased more than 14%. Revenue per piece growth outpaced cost per piece growth for a second consecutive quarter, contributing to 60 basis points of operating margin expansion.
• International returned to year-over-year operating profit growth for the first time since the 2025 U.S. trade policy changes; management cited continued momentum on China–U.S. and Asia–Asia lanes and a September rebound in U.S. inbound volume.
• Healthcare revenue topped $3 billion for a third consecutive quarter, with growth in every segment. SMBs, including platforms, were 35.1% of U.S. volume, up about 240 basis points year over year.
• GAAP results included a $279 million net charge, or $0.32 per diluted share, including a $182 million goodwill impairment in Supply Chain Solutions.