United Parcel Service said that under an agreement with its largest customer, it will reduce the volume that customer ships with it by more than 50% by June 2026 relative to 2024, and that in the second half of 2025 it expects to accelerate the year-over-year pace of decline to close to 30%. The company said the insourcing of SurePost pressured its operating results in Q2 and the first half of the year.

1. 01

   United Parcel Service said that under an agreement with its largest customer, it will reduce the volume that customer ships with it by more than 50% by June 2026 relative to 2024, and that in the second half of 2025 it expects to accelerate the year-over-year pace of decline to close to 30%. The company said the insourcing of SurePost pressured its operating results in Q2 and the first half of the year.

2. 02

   United Parcel Service reported net income of $1.3 billion and diluted earnings per share of $1.51 for Q2 2025. The company said non-GAAP adjusted diluted earnings per share were $1.55. It added that operating profit and operating margin decreased for the quarter and were flat year to date.

3. 03

   United Parcel Service said it expects to exclude between $400 and $650 million in non-GAAP adjusted expense during 2025 in connection with its Network Reconfiguration and Efficiency Reimagined programs. The company said it has incurred costs related to these programs of $126 million as of June 30, 2025 and expects to achieve $3.5 billion in savings from these programs in 2025.

4. 04

   United Parcel Service said net cash from operating activities decreased $2.6 billion during the first half of 2025. The company said it repurchased 8.6 million shares of class B common stock for $1.0 billion during the same period and had cash, cash equivalents and marketable securities of $6.3 billion as of June 30.

Key figures

Quarter ended June 30, 2025

Revenue

$21.2B

Operating income

$1.8B

Net income

$1.3B

EPS

$1.51

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.