UPS: revenue up in Q3 and 2026 forecasts revised upward again

The American courier and parcel delivery group UPS published on Tuesday an increase in third-quarter turnover and raised its forecasts for the full year, after having already done so this summer. Between July and September, the group's quarterly turnover amounted to 22.9 billion dollars (20.56 billion euros), up 6.7%, compared to 22.28 billion anticipated by analysts surveyed by the financial agency Bloomberg. In detail, activity increased by 4.5% on the American market while internationally, it increased by 7.1%.

The supply chain solutions division also evolved on a positive trend (+18.2%), thanks to growth in transit and logistics activities, particularly in the health sector. On the other hand, net profit was down year-on-year, at 1.16 billion dollars, compared to 1.31 billion a year earlier and a consensus of 1.38 billion. This decline is notably due to asset depreciation and restructuring costs, while last year at the same period, UPS had recorded several exceptional items. In 2025, UPS entered into an agreement with its largest customer, Amazon, to reduce the volume of activity with the latter by more than 50% over time.

This decision is accompanied by a reorganization of its network which should lead it to close up to 10% of its centers, reduce its vehicle and aircraft fleets and reduce its workforce. After 14,000 job cuts already announced in 2023, UPS embarked on a major restructuring plan last year, which led to the elimination of 48.

000 positions, according to figures revealed at the end of January. The group expects to achieve three billion dollars in savings over 2026. Building on the growth of its higher value-added activities, UPS has also revised its turnover forecasts for 2026 upwards, to “around 92.6 billion” dollars, compared to 91.2 billion dollars previously announced.

It also raised its forecast for earnings per share and excluding exceptional items, again for the whole of 2026, from 7.22 dollars previously “to around 7.28” dollars.

Machine-translated from French