United Parcel Service matches lowered expectations for 4Q profit, tops revenue forecasts - US News and World Report
Higher spending to gear up for the crush of holiday-package deliveries pushed fourth-quarter profit down 61 percent at UPS and the company gave a tepid outlook for 2015.
The results were roughly in line with the lowered expectations that UPS set two weeks ago, when it warned that profits during the latter part of the year would disappoint.
CEO David Abney said Tuesday that the company will control costs and raise prices this year, including surcharges for residential deliveries on peak days. UPS is sticking to its long-term targets for higher earnings, he said.
Higher spending to gear up for the crush of holiday-package deliveries pushed fourth-quarter profit down 61 percent at UPS and the company gave a tepid outlook for 2015.
The results were roughly in line with the lowered expectations that UPS set two weeks ago, when it warned that profits during the latter part of the year would disappoint.
CEO David Abney said Tuesday that the company will control costs and raise prices this year, including surcharges for residential deliveries on peak days. UPS is sticking to its long-term targets for higher earnings, he said.