UPS · 10-Q · 2026Q3 · Full report

Operating Cash Flow Trends

UNITED PARCEL SERVICE INC · 2026-11-04 · Importance 54 · Surprise 40 · In source text

Net cash from operating activities increased $838 million to $5.986 billion for the nine months ended September 30, 2026, from $5.148 billion in 2025. The increase reflected favorable accounts payable changes, lower cash contributions to company-sponsored benefit plans, approximately $270 million received from CBP for customer-refundable IEEPA tariff refunds, and lower income tax payments. UPS made $450 million in discretionary non-cash pension contributions in company-issued notes in August 2026. These benefits were partly offset by lower net income and higher accounts receivable, including $2.7 billion from the accounts receivable factoring program.

Key facts

• UPS's operating cash flow was partially offset by an increase in accounts receivable from changes in collection of aged receivables, including $2.7 billion from its accounts receivable factoring program. source
• UPS's net cash from operating activities increased $838 million in the nine months ended September 30, 2026, to $5.986 billion from $5.148 billion. source

Impact estimates