UPS · 10-Q · 2026Q2 · Full report

Market Demand Trends

UNITED PARCEL SERVICE INC · 2026-08-05 · Importance 77 · Surprise 82

UPS reduced volume from its largest customer by more than 50% from 2024 levels, completing the planned reduction during the second quarter of 2026. Global small package average daily volume declined 3.7% in the quarter and 5.7% year to date, driven by the customer reduction, lower-yielding e-commerce actions and trade-policy effects. U.S. Domestic Package volume fell 3.3% in the quarter and 5.7% year to date, while International Package volume declined 5.8% and 5.9%, respectively. SMB growth through the Digital Access Program, technology-sector business-to-business demand, and healthcare customers partially offset the declines.

Key facts

• Average daily package volume for consolidated global small package operations for the three months ended June 30, 2026 was 19,006 thousand versus 19,741 thousand in 2025, a decline of 3.7%. source
• Average daily package volume for the six months ended June 30, 2026 was 19,093 thousand versus 20,257 thousand in 2025, a decline of 5.7%. source
• U.S. Domestic Package total average daily package volume for the three months ended June 30, 2026 was 16,002 thousand versus 16,553 thousand in 2025, a decline of 3.3%. source
• International Package total average daily package volume for the three months ended June 30, 2026 was 3,004 thousand versus 3,188 thousand in 2025, a decline of 5.8%. source