UPS expected to post flat 3rd-qtr profit and gloomy forecast on Tuesday

Discussion in 'The Latest UPS Headlines' started by cheryl, Oct 20, 2012.

  1. cheryl

    cheryl I started this. Staff Member

    UPS expected to post flat 3rd-qtr profit and gloomy forecast on Tuesday - Yahoo

    United Parcel Service Inc. is expected to offer a subdued view of the global economy when it reports its third-quarter results before the market opens Tuesday.

    WHAT TO WATCH FOR: Any inkling that growth is slowing further. Three months ago, UPS predicted the global economy will get worse before it gets better. Smaller rival FedEx Corp. said the same in September. Both have also said trade around the world is weak and mimicking trends not seen since the recession.

    Last month FedEx unveiled a plan to boost profit by $1.7 billion annually by shedding jobs, aircraft and underused assets. UPS is making cuts as well.