United Parcel Servicereason 01 of 4it makes it for less than anyone else canderived 2026-09-11accession 0001628280-26-053249
In the first six months of 2026, we achieved approximately $1.2 billion of program benefits from these initiatives. We expect to achieve approximately $3 billion in full year 2026 benefits from these initiatives.
In the first half of 2026, we closed 45 leased and owned buildings, 44 of which have been permanently closed.
Non-GAAP adjusted cost per piece increased 8.0% (up 8.7% year to date).
These initiatives are expected to conclude by 2027.
the finding
The disclosure now includes $1.1 billion in separation costs for the Driver Choice Program, bearing on transformation initiative spending but not explicitly characterizing program benefits.
The report says this changed. It does not say whether that is good or bad, so neither do we.
before · MD&A · 2026-03-31 → 2026-06-30
“We also continued to progress on our Network of the Future initiative”
→ after
“recorded approximately $1.1 billion in separation costs related to our previously announced voluntary separation program, the Driver Choice Program”
the evidence · every sentence checkedfive sentences · whole, uncut
the claims it rests on
“In the first six months of 2026, we achieved approximately $1.2 billion of program benefits from these initiatives. We expect to achieve approximately $3 billion in full year 2026 benefits from these initiatives.”
“In the first half of 2026, we closed 45 leased and owned buildings, 44 of which have been permanently closed.”
“Non-GAAP adjusted cost per piece increased 8.0% (up 8.7% year to date).”
“These initiatives are expected to conclude by 2027.”
what it was checked against
initiative benefits offsetting costs
“These increases were partially offset by benefits achieved as we executed our Network Reconfiguration and Efficiency Reimagined initiatives, as well as gains on sales of properties and aircraft parts.”