UPS deftly navigates shipping surge, hit by pension charge - AP
Shares of United Parcel Service Inc. slumped Thursday after the package-delivery company gave a cautious outlook for 2020 as it invests more in its network to speed up deliveries.
UPS reported a fourth-quarter loss of $106 million, but after stripping out a charge related to pensions, the adjusted profit matched Wall Street expectations.
However, the Atlanta-based company predicted first-quarter profit would be about the same as a year ago, and it estimated full-year 2020 earnings of $7.76 to $8.06 per share. The middle of that range fell well short of Wall Street expectations for $8.03 per share.
Shares of United Parcel Service Inc. slumped Thursday after the package-delivery company gave a cautious outlook for 2020 as it invests more in its network to speed up deliveries.
UPS reported a fourth-quarter loss of $106 million, but after stripping out a charge related to pensions, the adjusted profit matched Wall Street expectations.
However, the Atlanta-based company predicted first-quarter profit would be about the same as a year ago, and it estimated full-year 2020 earnings of $7.76 to $8.06 per share. The middle of that range fell well short of Wall Street expectations for $8.03 per share.
