United Parcel Service, Inc. (UPS) Q2 2026 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 Second Quarter 2026 Earnings Conference Call. All lines have been placed on mute to prevent any background noise, and after the speaker's remarks, there will be a question-and-answer period. Any analyst that would like to ask a question, now is the time to press star, then 1 on your telephone keypad. It is now my pleasure to turn the floor over to your host, Mr. PJ Guido, Investor Relations Officer. Good morning and welcome to the UPS second quarter 2026 earnings call. Joining me today are Carol Tome, 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 2025 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 second quarter of 2026, GAAP results included after-tax transformation charges of $891 million, or $1.05 per diluted share, consisting primarily of employee separation costs associated with workforce reduction initiatives from our recently completed Driver Choice Program. 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, we will take questions from th...