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 I've got a rainbow butt! 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.