United Parcel Service
Q2 2022 Earnings Call
Jul 26, 2022, 8:30 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good morning. My name is Steven, and I will be your facilitator today. I would like to welcome everyone to the UPS investor relations second quarter 2022 earnings conference call. All lines have been placed on mute to prevent any background noise.
And after the speakers' remarks, there will be a question-and-answer period. [Operator instructions] It is now my pleasure to turn the floor over to your host, Mr. Ken Cook, investor relations officer. Sir, the floor is yours.
Ken Cook -- Investor Relations Officer
Good morning and welcome to the UPS second quarter 2022 earnings call. Joining me today are Carol Tome, our CEO; and Brian Newman, our CFO. Before we begin, I want to remind you that some of the comments will make today are forward-looking statements within the federal securities laws and to address our expectations for the future performance or operating results of our company. These statements are subject to risks and uncertainties, which are described in our 2021 Form 10-K, our first quarter 2022 Form 10-Q, and other reports we file with or furnished to the Securities and Exchange Commission.
These reports, when filed, are available on the UPS investor relations website and from the SEC. Unless stated otherwise, our discussion refers to adjusted results. For the second quarter of 2022, GAAP results include after tax transformation and other charges of $31 million or $0.04 per diluted share. A reconciliation to GAAP financial results is available on the UPS investor relations website, along with the webcast of today's call.
Following our prepared remarks, we will take questions from those joining us via the teleconference. [Operator instructions] And now, I'll turn the call over to Carol.
Carol Tome -- Chief Executive Officer
Thank you, Ken, and good morning. Let me begin by recognizing our more than 500,000 UPSers around the world for their dedication, hard work, and efforts. Our founder, Jim Casey said, "We do what we promise." And in the second quarter, our UPSers did just that. They not only met, they exceeded our promises to our customers, our shareholders, and each other.
In the second quarter, the macro environment remained dynamic. We expected volume levels to decline from last year. They did but more than we planned, given a number of factors that Brian will detail. Despite the decline in volume, we continued to win in the most attractive parts of the market, with strong gains in revenue quality.