UPS Says Profit Fell 21% on Fuel, Slowing Economy

Discussion in 'The Latest UPS Headlines' started by cheryl, Jul 22, 2008.

  1. cheryl

    cheryl I started this. Staff Member

    UPS Says Profit Fell 21% on Fuel, Slowing Economy - Bloomberg

    United Parcel Service Inc., the world's largest package-delivery company, said second-quarter profit fell 21 percent as fuel costs rose and the cooling economy damped domestic shipments.

    Net income was $873 million, or 85 cents a share, compared with a year-earlier profit of $1.1 billion, or $1.04 a share. Revenue rose 6.7 percent to $13 billion, Atlanta-based UPS said today in a statement.
     
  2. moreluck

    moreluck golden ticket member

    In one of the many earnings reports I read this morning, I believe it was The Street.com, It mentioned that the UPS projections are based on oil being $140 a barrel.

    So anytime oil is under that amount, it should be a "good time" for UPS.