UPS Tumbles After Profit Falls 56%, Projection Misses Estimates

Discussion in 'The Latest UPS Headlines' started by cheryl, Apr 23, 2009.

  1. cheryl

    cheryl I started this. Staff Member

    UPS Tumbles After Profit Falls 56%, Projection Misses Estimates - Bloomberg

    United Parcel Service Inc. fell the most since December after posting a profit that trailed estimates and forecasting second-quarter earnings short of analysts’ projections because of dwindling shipping demand.

    First-quarter net income at the world’s largest package- delivery company plunged 56 percent to $401 million, or 40 cents a share. Excluding a noncash writedown in the value of some jet freighters, profit was 52 cents a share, trailing the 56-cent average of 16 analyst estimates compiled by Bloomberg.
     
  2. rushfan

    rushfan Well-Known Member

    Make the stock private again.
     
  3. Monkey Butt

    Monkey Butt You can call me Chappy Staff Member

    UPS obviously does not think the price per share is that low. UPS bought a measly 110 million shares at $45 average price.