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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
UPS
UPS (UPS) investor relations material
UPS Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary27 Oct, 2026
Executive summary
Q3 revenue rose 6.7% YoY to $22.853B; adjusted operating profit was $2.054B, down 3.7%, and adjusted diluted EPS was $1.69, down from $1.74.
Revenue grew across all three segments; U.S. Domestic and International adjusted operating profit increased, while Supply Chain Solutions results faced a prior-year sale-leaseback comparison.
Management cited premium volume, improved revenue quality and mix, and network efficiency as drivers of underlying performance; FY26 revenue, operating profit, EPS and free cash flow outlooks were raised.
Financial highlights
Q3 GAAP operating profit was $1.744B versus $1.804B YoY; adjusted operating profit was $2.054B versus $2.132B.
GAAP net income was $1.163B versus $1.311B; adjusted net income was $1.442B versus $1.475B. GAAP diluted EPS was $1.37 versus $1.55.
Nine-month operating cash flow was $5.986B and free cash flow was $4.220B, versus $5.148B and $2.744B, respectively, a year earlier.
Outlook and guidance
FY26 guidance: revenue ~$92.6B, adjusted operating profit ~$8.75B, adjusted diluted EPS ~$7.28, and adjusted free cash flow ~$6.1B.
Q4 guidance: revenue ~$25.7B and adjusted operating profit ~$3.3B; effective tax rate expected at ~23%.
Q4 segment outlook: U.S. Domestic revenue down 3.0% YoY at 10.5% adjusted margin; International revenue down 7.0% at ~20.0% margin; Supply Chain Solutions revenue up nearly 13% at ~12.2% margin.
FY26 capex expected at ~$3.0B, pension contributions at $1.3B, and dividends at ~$5.4B subject to board approval.
U.S. average daily volume expected to rise ~25% sequentially in Q4; nearly 70% of packages are expected to move through automated processes.
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Latest events from UPS
- Q1 revenue rose 27%; pension MTM drove reported EPS well above adjusted EPS.UPS
Q1 2021 - FY22 adjusted profit grew, while FY23 guidance anticipates lower revenue and margins.UPSQ4 2022
- Q2 2026 revenue up 7.6%, margin gains, but GAAP profit fell on separation costs; guidance raised.UPSQ2 2026
- Director elections, strategic network changes, and growth initiatives defined the meeting's outcomes.UPSAGM 2025
- Up to $10 billion in securities to be issued for general corporate purposes by a global logistics leader.UPSRegistration Filing
- Board and management proposals passed; shareowner proposals failed; focus on premium growth and automation.UPSAGM 2026
- Q1 2026 revenue hit $21.2B; cost savings, premium mix, and guidance reaffirmed.UPSQ1 2026
- Q1 2025 saw $21.5B revenue, higher adjusted EPS, and margin gains amid macro uncertainty.UPSQ1 2025
- Q4 profit and margin rose, with cost-saving actions and network overhaul set for 2025.UPSQ4 2024
Next UPS earnings date
Q4 202626 Jan, 2027
UPS
Next UPS earnings date
Q4 202626 Jan, 2027
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Frequently asked questions
The world’s leading courier service
UPS, short for United Parcel Service, is a global logistics and package delivery company. They provide a wide range of transportation and supply chain management solutions, catering to both businesses and individuals. With a world-wide network of vehicles, aircraft, and distribution centers, UPS offers reliable and efficient shipping services for packages of various sizes.
The leaders of the courier world
UPS has established a strong market position as a global leader in logistics and package delivery services. The company's success can be attributed to several key factors. UPS has built an extensive and efficient transportation network, including a fleet of vehicles, aircraft, and a vast network of distribution centers strategically located worldwide. This allows them to provide reliable and timely delivery services across different geographies.
All-encompassing shipping solutions
UPS offers a wide range of shipping solutions for both companies and private individuals. For businesses, UPS provides services such as domestic and international package delivery, freight transportation, supply chain management, and logistics solutions. These services help companies optimize their shipping processes, improve operational efficiency, and expand their global reach.
For private individuals, UPS offers reliable and convenient shipping options for personal packages and shipments. Whether it's standard shipping or expedited delivery, UPS ensures timely and secure transportation. The company also provides online tracking, secure packaging, and easy returns to simplify the shipping experience for individuals.
With its comprehensive range of shipping solutions, UPS caters to the needs of businesses and individuals alike, offering reliable and efficient services for domestic and international shipments.
A substantial moat
The courier industry, including companies like UPS and their main competitors FedEx and Deutsche Post (DHL), tend to have substantial moats. The high barriers to entry, such as the need for extensive transportation infrastructure and established customer relationships, make it challenging for new competitors to enter the market. This creates a favorable competitive landscape for established courier companies like UPS, further reinforcing their market position and providing a strong moat against potential rivals.