Filing Flows › United Parcel Service (UPS) › Q1 2026
United Parcel Service (UPS) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
United Parcel Service (UPS) reported revenue of $21.2B for the first quarter 2026 (Q1 2026), -2% from a year earlier and -13% from the quarter before. Operating margin was 6.0%, net earnings $864M (4.1% of revenue).
United Parcel Service, Q1 2026: revenue $21.2B (-2% year over year), operating margin 6.0%, net earnings $864M, operating cash flow $2.2B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $21.2B | -13% | -2% |
| Operating profit | $1.3B | -51% | -24% |
| Net earnings | $864M | -52% | -27% |
| Operating cash flow | $2.2B | -33% | -4% |
| Free cash flow | $1.2B | -54% | -17% |
What changed
Revenue was $21.2B in Q1 2026, down 2% year over year and down 13% from the previous quarter.
Operating profit was $1.3B, a 6.0% margin (down 1.8 points year over year). Total costs grew 0% against a revenue fall of 2%. Net earnings were $0.86B, down 27% year over year. The effective tax rate was 23.1%.
Operating cash flow was $2.2B (down 4% year over year), 257% of net earnings. Non-cash charges added back $0.79B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.55B. Capital expenditures of $1.0B left free cash flow of $1.2B.
Questions
What was United Parcel Service's revenue in the first quarter 2026?
United Parcel Service (UPS) reported revenue of $21.2B for the first quarter 2026 (Q1 2026), -2% from a year earlier and -13% from the quarter before.
Was United Parcel Service profitable in the first quarter 2026?
Operating profit was $1.3B (6.0% of revenue) and net earnings $864M.