Shipper Warns of Reduced Profit Expectations

Shipper warns of reduced profits

On July 12, international shipper UPS warned that its second quarter earnings would fall short of expectations.

Citing overcapacity in air freight, an increasing consumer demand for low-yielding shipping solutions, and a slowing U.S. industrial economy, UPS alerted investors of its reduced revenue and operating profit for the remainder of the year.

While downward revisions to economic forecasts will cause slower than anticipated earnings growth through the end of the year, UPS still anticipates a 3-7 percent increase in earnings per share over last year’s results.

UPS is expected to release its full second quarter financial results on July 23.

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