Investing.com -- UPS reported better-than-expected first-quarter earnings and reaffirmed its outlook for the full year, but the company’s shares slid around 2% lower in premarket trading.

The parcel giant posted first-quarter earnings per share of $1.07, beating the analyst consensus of $1.03. Revenue came in at $21.2 billion against expectations of $20.97 billion.

UPS reported adjusted consolidated operating profit for the quarter of $1.32 billion.

“The first quarter of 2026 marked a critical transition period for UPS in which we needed to flawlessly execute several major strategic actions and we delivered," said CEO Carol Tomé.

"With that behind us, we expect to return to consolidated revenue and operating profit growth, and adjusted operating margin expansion in the second quarter of this year.”

For the full year, UPS maintained its revenue guidance of $89.6 billion and reaffirmed an adjusted operating margin of approximately 9.6%.

The company also held its capital expenditure forecast at around $3.0 billion and expects to pay roughly $5.4 billion in dividends, subject to board approval. The effective tax rate is still seen at approximately 23%.