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TransportNewsCA · US · MX corridorFreight markets and cross-border tradeWednesday, November 4, 2026
Freight Markets

UPS raises full-year outlook after Q3 revenue climbs 6.7% to $22.9 billion

All three segments grew. UPS now expects about $92.6 billion in 2026 revenue and $8.75 billion in adjusted operating profit.

By Transport News Staff ·
A UPS tractor-trailer at a loading dock in Arlington, Texas.
Photo: U.S. Department of Agriculture / Wikimedia Commons · Public domain

UPS raised its fourth-quarter and full-year 2026 guidance after third-quarter revenue rose 6.7% to $22.9 billion, with growth in every segment. The company reported results on October 27.

Consolidated operating profit was $1.7 billion, or $2.1 billion on a non-GAAP adjusted basis. Diluted EPS was $1.37, and $1.69 adjusted. GAAP results include a net charge of $279 million, or $0.32 a share. That covers $130 million in after-tax transformation costs and a $182 million goodwill impairment in Supply Chain Solutions, partly offset by a $33 million gain on the sale of MD-11 assets.

Segment results

| Segment | Q3 2026 revenue | Q3 2025 revenue | Change | Operating margin | |---|---|---|---|---| | U.S. Domestic | $14,865M | $14,220M | +4.5% | 6.1% (7.0% adj.) | | International | $5,007M | $4,673M | +7.1% | 14.9% | | Supply Chain Solutions | $2,981M | $2,522M | +18.2% | 3.1% (9.2% adj.) |

  • U.S. Domestic: revenue per piece rose 6.1%. Operating profit was $906 million, up from $603 million.
  • International: revenue per piece rose 15.0%.
  • Supply Chain Solutions: growth came mainly from forwarding and logistics, including healthcare. Last year's quarter included a $330 million pre-tax gain from a sale-leaseback.

New guidance

| 2026 measure | New outlook | |---|---| | Q4 revenue | ~$25.7B | | Q4 adjusted operating profit | ~$3.3B | | Full-year revenue | ~$92.6B | | Full-year adjusted operating profit | ~$8.75B | | Full-year adjusted diluted EPS | ~$7.28 | | Adjusted free cash flow | ~$6.1B |

UPS kept capital spending at about $3.0 billion and dividend payments at around $5.4 billion, subject to board approval.

CEO Carol Tomé said UPS enters the holiday season "with the most automated and efficient network in our history."

Network cuts continue

UPS says its network reconfiguration and Efficiency Reimagined programs delivered about $1.8 billion in benefits in the first nine months, and it expects nearly $3 billion for the full year. The planned volume reductions from its largest customer were completed in the second quarter. Efficiency Reimagined is expected to run until the fourth quarter of 2027.

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