United Parcel Service (UPS)

Outperform Recap: Q2 2026

Q2 Delivered the Inflection: 8.0% Domestic Margin and 26% More Profit Per Piece, Sold Off on a GAAP Charge Consensus Never Modelled

Hold Recap: Q1 2026

The Beat Was Real, the Ramp Is the Problem: 4.0% Domestic Margin and a Reaffirmed 9.6% Guide That Now Lives in the Back Half