UPS Reports 4Q Loss
United Parcel Service Inc. is reporting a fourth-quarter loss of $239 million, after reporting a profit in the same period a year earlier.
The Atlanta company said Tuesday that it had a loss of 27 cents per share. Earnings, adjusted for non-recurring costs, came to $1.63 per share.
The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.68 per share.
The package and delivery service posted revenue of $16.93 billion in the period, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $16.96 billion.
UPS expects full-year earnings in the range of $5.80 to $6.10 per share.
UPS shares have climbed 2 percent since the beginning of the year, while the Standard & Poor's 500 index has risen almost 2 percent. The stock has increased 29 percent in the last 12 months.——
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