UPS hit by hurricanes but rosy on holiday shipping - Reuters
United Parcel Service Inc (UPS.N) reported a slightly lower quarterly net profit on Thursday due to U.S. hurricanes and higher costs for Saturday delivery but lifted its full-year forecast, citing global shipping strength and expectations for the crucial holiday season.
The world’s largest package delivery company, often seen as a bellwether of U.S. economic activity, expects to make about 750 million deliveries globally between the U.S. Thanksgiving holiday and New Year’s Eve, about 40 million more than last year, it said.
UPS CEO David Abney told analysts on a conference call his optimism for 2018 was growing on the strength of global trade, U.S. consumer spending, and proposed tax cuts.
United Parcel Service Inc (UPS.N) reported a slightly lower quarterly net profit on Thursday due to U.S. hurricanes and higher costs for Saturday delivery but lifted its full-year forecast, citing global shipping strength and expectations for the crucial holiday season.
The world’s largest package delivery company, often seen as a bellwether of U.S. economic activity, expects to make about 750 million deliveries globally between the U.S. Thanksgiving holiday and New Year’s Eve, about 40 million more than last year, it said.
UPS CEO David Abney told analysts on a conference call his optimism for 2018 was growing on the strength of global trade, U.S. consumer spending, and proposed tax cuts.
