UPS has completed its strategic glide-down of low-margin Amazon volume and is now focused on higher-margin segments such as complex healthcare logistics, SMB, and B2B. Domestic margins are expanding sequentially and year-over-year, supported by automation that lowers cost per piece by 28%. Volume excluding Amazon is growing, and international trade lanes like China-US are recovering. The company expects continued profit and earnings growth into 2027, and cash flow is strengthening to comfortably cover the dividend.