UBS Group AG (0R3T) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. My name is Matthew and I'll be your facilitator today. I'd like to welcome everyone to the UPS third quarter 2025 earnings conference call. All lines have been placed on mute to prevent any background noise. And after the speaker's remarks, there'll be a question and answer period. Any analysts that want to ask a question, now is the time to press star then one on your telephone keypad. It is now my pleasure to turn the floor over to your host, Mr. P.J. Guido, Investor Relations Officer. Sir, the floor is yours. Good morning, and welcome to the UPS Third Quarter 2025 Earnings Call. Joining me today are Carol Tomei, our CEO, Brian Dykes, our CFO, and a few additional members of our Executive Leadership Team. Before we begin, I want to remind you that some of the comments we'll make today are forward-looking statements and address our expectations for the future performance or operating results of our company. These statements are subject to risks and uncertainties, which are described in our 2024 Form 10-K and other reports we file with or furnish to the Securities and Exchange Commission. These reports, when filed, are available on the UPS Investor Relations website and from the SEC. Unless stated otherwise, our discussion refers to adjusted results. For the third quarter of 2025, DAP results include a net charge of $164 million, or 19 cents per diluted share, comprised of after-tax transformation strategy costs of $250 million, which were partially offset by an $86 million benefit from the reversal of an income tax valuation allowance. A reconciliation of non-GAAP adjusted amounts to GAAP financial results is available in today's webcast materials. These materials are also available on the UPS Investor Relations website. Following our prepared remarks,...