UPS · 10-Q · 2026Q2 · Full report

Customer Dynamics

UNITED PARCEL SERVICE INC · 2026-08-05 · Importance 84 · Surprise 100

UPS completed the planned reduction of volume from its largest customer, cutting that customer's volume by more than 50% from 2024 levels. The reduction affected residential, commercial, air and ground shipments, with business-to-consumer volume down 3.5% in the quarter and 6.9% year to date. Business-to-business volume decreased 3.2% in the quarter and 4.1% year to date, primarily because of retail weakness, although technology-sector demand continued to grow. SMB and healthcare customers provided partial offsets, including through the Digital Access Program and growth in air products.

Key facts

• We reduced their volume by more than 50% from 2024 levels. source