Filing Flows › United Parcel Service (UPS) › Q3 2025
United Parcel Service (UPS) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
United Parcel Service (UPS) reported revenue of $21.4B for the third quarter 2025 (Q3 2025), -4% from a year earlier and +0.9% from the quarter before. Operating margin was 8.4%, net earnings $1.3B (6.1% of revenue).
United Parcel Service, Q3 2025: revenue $21.4B (-4% year over year), operating margin 8.4%, net earnings $1.3B, operating cash flow $2.5B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $21.4B | +0.9% | -4% |
| Operating profit | $1.8B | -1% | -9% |
| Net earnings | $1.3B | +2% | -15% |
| Operating cash flow | $2.5B | +613% | +66% |
| Free cash flow | $1.5B | — | +131% |
What changed
Revenue was $21.4B in Q3 2025, down 4% year over year and up 1% from the previous quarter.
Operating profit was $1.8B, a 8.4% margin (down 0.5 points year over year). Total costs fell 3% while revenue fell 4%. Net earnings were $1.3B, down 15% year over year. The effective tax rate was 18.4%.
Operating cash flow was $2.5B (up 66% year over year), 189% of net earnings. Non-cash charges added back $0.80B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.35B. Capital expenditures of $1.0B left free cash flow of $1.5B.
Questions
What was United Parcel Service's revenue in the third quarter 2025?
United Parcel Service (UPS) reported revenue of $21.4B for the third quarter 2025 (Q3 2025), -4% from a year earlier and +0.9% from the quarter before.
Was United Parcel Service profitable in the third quarter 2025?
Operating profit was $1.8B (8.4% of revenue) and net earnings $1.3B.