The Quarter in Brief
UPS reported its third quarter of 2026, the three months to September 30, before the market opened on October 27. Revenue was $22.85 billion, up 6.7% from $21.42 billion a year earlier, with all three segments growing. Reported earnings per share were $1.37, down from $1.55. Adjusted earnings per share, the company's measure that leaves out restructuring costs, a goodwill write-down and a gain on selling aircraft parts, were $1.69, down 2.9% from $1.74.
Analysts had expected about $1.63 of adjusted earnings per share and about $22.28 billion of revenue, according to Investing.com, so UPS came in ahead on both. What set the quarter apart was that revenue grew while volume shrank: UPS handled 4.2% fewer packages a day than a year earlier, but earned 7.7% more on each one. The year-earlier quarter also held a $330 million gain from selling and leasing back property, which UPS kept in its adjusted figures and which makes last year's profit look larger.