United Parcel Service
Q1 2022 Earnings Call
Apr 26, 2022, 9:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good morning. My name is Steven and I will be a conference facilitator today. I would like to welcome everyone to the UPS investor relations first quarter 2022 earnings conference call. [Operator instructions] It is now my pleasure to turn the floor over to our host, Mr.
Ken Cook, investor relations officer. Sir, the floor is yours.
Ken Cook -- Investor Relations
Good morning and welcome to the UPS first 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 we'll make today are forward-looking statements within the federal securities laws and 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 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. For the first quarter of 2022, GAAP results include a net charge of $19 million or $0.02 per diluted share comprised of after-tax transformation and other charges of $43 million, offset by an after-tax gain of $24 million resulting from the curtailment of benefits in a Canadian retirement plan. Unless stated otherwise, our comments will refer to adjusted results, which exclude pension adjustments and transformation and other charges. The webcast of today's call, along with the reconciliation of non-GAAP financial measures, is available on the UPS investor relations website.
[Operator instructions] And now I'll turn the call over to Carol.
Carol Tome -- Chief Executive Officer
Thank you, Ken, and good morning. This is my eighth earnings call at UPS. Since I joined the company, we faced a pandemic, social unrest, political unrest, the fallout from Brexit, and now a war. Through it all, I continue to be so impressed by the resiliency of UPSers and their commitment to moving our world forward by delivering what matters.
I want to thank our team for their hard work and efforts in serving the needs of our customers, each other and our communities during these most trying times. Before I discuss our results, I'd like to address our situation in Ukraine. Our hearts are with the people of Ukraine, who are feeling the effects of this tragedy first hand. We have suspended all commercial operations in Ukraine, Belarus, and Russia.