UPS posts $21.2B revenue

United Parcel Service reported $21.2 billion in first-quarter revenue on April 28 and said the quarter was a “critical transition period” for its network. (investors.ups.com) Adjusted diluted earnings per share were $1.07, down from $1.49 a year earlier, while consolidated adjusted operating profit fell to $1.32 billion from $1.76 billion. (investors.ups.com) In the U.S. domestic segment, average daily volume fell 7.5% and revenue slipped 1.4% to $14.46 billion, even as revenue per piece rose 5.5%. (investors.ups.com) Chief executive Carol Tomé said UPS cut Amazon volume by about 500,000 packages a day on average in the quarter and closed 23 additional buildings. (cnbc.com) (seekingalpha.com) That helps explain the split in the numbers: fewer boxes moved through the network, but more money collected on each package. UPS has been steering away from lower-margin business and toward healthcare, international, and premium shipments. (investors.ups.com) (cnbc.com) UPS kept its full-year 2026 targets unchanged at about $89.7 billion in revenue and a non-GAAP adjusted operating margin of about 9.6%. It also reaffirmed plans for roughly $3 billion in capital spending and about $5.4 billion in dividend payments. (investors.ups.com) Investors were looking for more than a beat on quarterly revenue. CNBC reported UPS shares fell after the company reaffirmed, rather than raised, its 2026 outlook. (cnbc.com) The backdrop is a network being rebuilt while it is still running. UPS said first-quarter results included $42 million after tax in transformation charges, and management said the second quarter should bring a return to revenue and operating profit growth. (investors.ups.com) (markets.ft.com) For now, UPS is asking investors to accept lower volume, weaker year-over-year profit, and more restructuring in exchange for a network built around higher-yield freight. (investors.ups.com) (finance.yahoo.com)