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# UPS Lifts Full-Year Targets To $92.6 Billion In Revenue Even As Adjusted Earnings Per Share Slip
- URL: https://www.bullished.co/ups-lifts-full-year-targets-to-92-6-billion-in-revenue-even-as-adjusted-earnings-per-share-a75eb484/
- Published: 2026-10-27T10:21:40.000Z
- Updated: 2026-10-28T16:32:52.000Z
- Description: Third-quarter revenue rose 6.7% in every segment, but adjusted earnings per share fell to $1.69 from $1.74 a year earlier.
- Author: Matteo Parrino
- Tags: Earnings, UPS, Industry: Industrials

[UPS](https://www.bullished.co/tag/ups/) raised its fourth-quarter and full-year 2026 guidance on Tuesday after [third-quarter revenue rose 6.7% to $22.9 billion](https://www.sec.gov/Archives/edgar/data/0001090727/000162828026067381/exhibit991-earningspressre.htm?ref=bullished.co), with all three segments growing. Earnings per share still fell, with diluted earnings at $1.37 against $1.55 a year earlier.

## Revenue up everywhere, earnings per share down

UPS, the package delivery and logistics company, said U.S. Domestic revenue rose 4.5%, helped by a 6.1% increase in revenue per piece. International rose 7.1%, driven by a 15.0% jump in revenue per piece. Supply Chain Solutions grew 18.2%, primarily on forwarding and logistics, including healthcare.

Adjusted earnings per share were $1.69 versus $1.74 a year earlier. Reported results carried a net charge of $279 million, or $0.32 per diluted share. That included a $182 million goodwill impairment in Supply Chain Solutions and after-tax transformation costs of $130 million, partly offset by a $33 million gain on MD-11 aircraft asset sales.

The year-earlier quarter included a $330 million pre-tax gain from a sale-leaseback in Supply Chain Solutions, worth $0.30 a share. Adjusted operating profit was $2.1 billion at a 9.0% margin.

## The raised outlook

For the full year, UPS now expects revenue of about $92.6 billion, adjusted operating profit of about $8.75 billion and adjusted earnings per share of about $7.28\. It lifted its adjusted free cash flow target to about $6.1 billion. For the fourth quarter it guided to revenue of about $25.7 billion and adjusted operating profit of about $3.3 billion.

CEO Carol Tomé said the company is entering the holiday shipping season "from a position of strength." Capital spending of about $3.0 billion, dividend payments of around $5.4 billion and $1.3 billion in pension contributions were confirmed.

## Shrinking around Amazon, still restructuring

The company said planned volume reductions from its largest customer finished in the second quarter of 2026\. Amazon and its affiliates made up about 10.6% of 2025 revenue. U.S. average daily volume was 15.621 million packages in the quarter, down from 16.150 million a year earlier.

Its Efficiency Reimagined overhaul is not expected to conclude until the fourth quarter of 2027\. UPS said it achieved about $1.8 billion of program benefits in the first nine months and expects nearly $3 billion for the full year. Free cash flow for the first nine months was $4.22 billion, versus $2.74 billion a year earlier.

Tomé and CFO Brian Dykes discussed the results with analysts on a call at 8:30 a.m. ET Tuesday.

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### Sources

- [8-K Filing — UNITED PARCEL SERVICE INC (UPS)](https://www.sec.gov/Archives/edgar/data/0001090727/000162828026067381/ups-20261027.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit exhibit991-earningspressre.htm — UNITED PARCEL SERVICE INC 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001090727/000162828026067381/exhibit991-earningspressre.htm?ref=bullished.co) — SEC EDGAR
- [United Parcel Service (UPS) Charges More Per Package, but Is the Dividend Safe?](https://finance.yahoo.com/markets/stocks/articles/united-parcel-ups-charges-more-172852062.html?ref=bullished.co) — Yahoo Finance

### More on United Parcel Service

- [UPS CEO Tomé Says Two Teamster Contracts Give Her A 'Distinct Advantage' For 2028 Talks](https://www.bullished.co/ups-ceo-tome-says-two-teamster-contracts-give-her-a-distinct-advantage-for-2028-talks-4899f018/)
- [UPS CEO Says Amazon's Shipping Push Has Had No 'Measurable Or Meaningful Impact' Yet](https://www.bullished.co/ups-ceo-says-amazons-shipping-push-has-had-no-measurable-or-meaningful-impact-yet-88aec5fe/)

[All United Parcel Service (UPS) coverage →](https://www.bullished.co/tag/ups/)