UPS on Tuesday released results for the fourth quarter of fiscal 2025, reporting consolidated revenues of $24.5 billion and a non-GAAP adjusted diluted earnings per share of $2.38, and filing full-year 2026 guidance on a non-GAAP adjusted basis. The company disclosed the completion of retirement of its MD-11 aircraft fleet and included related charges in its GAAP results. These figures were published in UPS’s Jan. 27, 2026 earnings release and discussed during the company’s investor call.
Key insights
- Fourth-quarter 2025 consolidated revenues: $24.5 billion, as per the company’s earnings release.
- Diluted earnings per share (GAAP): $2.10; non-GAAP adjusted diluted EPS: $2.38.
- GAAP included total fourth-quarter charges of $238 million (approximately $0.28 per diluted share), including a $137 million after-tax, non-cash write-off tied to retirement of the MD-11 fleet.
- UPS provided 2026 non-GAAP adjusted guidance of approximately $89.7 billion in revenue and an adjusted operating margin of about 9.6%.
- The company declared a quarterly dividend of $1.64 per share, payable March 5, 2026 to shareholders of record Feb. 17, 2026.
Financial results and segment performance
Consolidated results
UPS reported consolidated operating profit of $2.6 billion for the quarter and a non-GAAP adjusted consolidated operating profit of $2.9 billion, according to the company’s release. The company’s full-year 2025 consolidated revenue totaled $88.7 billion.
Segment details
UPS’s earnings release broke out performance by segment. U.S. Domestic revenue for Q4 2025 was disclosed at approximately $16.8 billion, with revenue per piece increasing while overall volume declined year-over-year; the release states U.S. Domestic revenue declined primarily due to expected volume decreases. International segment revenue increased year-over-year, with revenue per piece rising. Supply Chain Solutions revenue declined, driven in part by lower Mail Innovations volume. All segment figures and margins were published in UPS’s earnings release.
Charges, aircraft fleet retirement and related items
UPS said GAAP results for Q4 2025 included total charges of $238 million, or $0.28 per diluted share. The company specified that the charges comprised a $137 million after-tax, non-cash charge related to writing off the company’s MD-11 aircraft fleet, plus $101 million of after-tax transformation charges. UPS stated it completed retirement of the MD-11 fleet during the quarter. These amounts and the fleet retirement were disclosed in the company’s Jan. 27 earnings release.
Reuters reporting and other coverage also noted the MD-11 retirement and the $137 million charge as part of UPS’s Q4 disclosure. The MD-11 retirement followed a November 2025 aircraft accident that prompted grounding and subsequent review; UPS’s release links the retirement to accelerated fleet modernization.
2026 guidance and capital plan
Non-GAAP guidance
UPS provided full-year 2026 guidance on a non-GAAP adjusted basis, forecasting consolidated revenue of approximately $89.7 billion and a non-GAAP adjusted operating margin of roughly 9.6%. The company stated it presents this guidance on a non-GAAP basis because certain future events and adjustments cannot be predicted or reconciled to GAAP amounts. The guidance figures and the company’s rationale were included in the Jan. 27 earnings release.
Capital and shareholder returns
UPS said it plans capital expenditures of about $3.0 billion for 2026 and estimated dividend payments of around $5.4 billion, subject to board approval. The board approved a first-quarter 2026 dividend of $1.64 per share, payable March 5, 2026 to shareholders of record on Feb. 17, 2026. These items were listed in the company’s earnings release.
Workforce and network changes
During the post-earnings conference call, company executives discussed steps to reconfigure the network and adjust volume from lower-margin customers. Reuters and other outlets reported that UPS said it would reduce low-margin Amazon volume and that company leadership indicated plans to cut operational roles; Reuters quoted UPS executives saying the company would cut up to 30,000 operational jobs in 2026 as part of the reconfiguration. These remarks and the reported job-cut figure were covered in the company call and reported by Reuters.
Conference call and company statements
UPS CEO Carol Tomé and CFO Brian Dykes led the company’s investor call on Jan. 27, 2026, discussing the quarter’s results, the MD-11 retirement and the 2026 strategy. In the earnings release, Tomé thanked employees for service during peak season and described 2025 as a year of progress for revenue quality and network agility; the company’s release contains those statements and is the primary source for the direct quotations included in the company’s announcement.
Background and corroboration
The primary source for the figures and disclosures in this article is UPS’s Jan. 27, 2026 earnings release and related investor materials filed and posted on the company’s investor relations site. Independent reporting by Reuters and other reputable outlets corroborated key items including the MD-11 fleet retirement, the related non-cash charge and comments on network changes and workforce impacts discussed on the earnings call. Where applicable, this article attributes information to UPS’s release or to Reuters reporting.
UPS has published its fourth-quarter 2025 financial results and non-GAAP adjusted full-year 2026 guidance, completed retirement of its MD-11 aircraft fleet with related GAAP charges disclosed, and declared a $1.64 quarterly dividend. Company executives discussed strategic network changes and reported plans to reduce operational roles during the 2026 reconfiguration, as reported in the post-earnings call. These items reflect the company’s public disclosures and contemporaneous reporting.
