Filing Flows › United Parcel Service (UPS) › Q2 2026 › vs Q2 2025
United Parcel Service (UPS) Q2 2026 vs Q2 2025 (year over year)
United Parcel Service's revenue rose $1.6B (+8%) from $21.2B in Q2 2025 to $22.8B in Q2 2026. Operating margin 4.1% against 8.6% (-4.5 pts).
United Parcel Service, Q2 2026: revenue $22.8B (+8% year over year), operating margin 4.1%, net earnings $604M, operating cash flow $859M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 4.1% | 8.6% | -4.5 pts |
| Net margin | 2.6% | 6.0% | -3.4 pts |
| Free cash flow margin | 0.7% | -3.7% | +4.4 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $22.8B | $21.2B | $1.6B | +8% |
| Operating profit | $930M | $1.8B | −$892M | -49% |
| Costs & expenses | $21.9B | $19.4B | $2.5B | +13% |
| Pre-tax earnings | $761M | $1.7B | −$901M | -54% |
| Other expense, net | $169M | $160M | $9.0M | +6% |
| Net earnings | $604M | $1.3B | −$679M | -53% |
| Income tax | $157M | $379M | −$222M | -59% |
| Depreciation & amortization | $809M | $757M | $52.0M | +7% |
| Share-based compensation | $34.0M | $0 | $34.0M | — |
| Working capital & other | $588M | $1.7B | −$1.1B | -65% |
| Operating cash flow | $859M | $348M | $511M | +147% |
| Free cash flow (OCF − capex) | $166M | −$775M | $941M | — |
| Capital expenditures | $693M | $1.1B | −$430M | -38% |
Questions
How much did United Parcel Service's revenue grow year over year in Q2 2026?
United Parcel Service's revenue rose $1.6B (+8%) from $21.2B in Q2 2025 to $22.8B in Q2 2026. Operating margin 4.1% against 8.6% (-4.5 pts).