United Parcel Service, Inc. (UPS) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. My name is Matthew and I'll be your facilitator today. I would like to welcome everyone to the UPS fourth 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 would like 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 fourth 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 fourth quarter of 2025, GAAP results include total charges of $238 million, or 28 cents per diluted share, comprised of a non-cash after-tax charge of $137 million due to a write-off of the company's MD-11 aircraft lease. and after-tax transformation charges of $101 million. 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 remar...