UPS profit falls as brutal winter raises costs - Reuters
United Parcel Service Inc (UPS.N), the world's biggest courier company, reported a 12 percent fall in quarterly profit due to increased overtime and transport costs related to a colder-than-usual winter in the United States.
The company also warned that full-year earnings were likely to come in at the lower end of its earlier forecast, citing the "challenging" start to 2014.
UPS joins a growing list of companies, including closest rival FedEx Corp (FDX.N), that have blamed the harsh winter for weak results and a subdued outlook for 2014.
United Parcel Service Inc (UPS.N), the world's biggest courier company, reported a 12 percent fall in quarterly profit due to increased overtime and transport costs related to a colder-than-usual winter in the United States.
The company also warned that full-year earnings were likely to come in at the lower end of its earlier forecast, citing the "challenging" start to 2014.
UPS joins a growing list of companies, including closest rival FedEx Corp (FDX.N), that have blamed the harsh winter for weak results and a subdued outlook for 2014.