UPS Lowers 2Q Earnings Expectations
Press Release
Slow Economic Growth, High Fuel Costs Cited
ATLANTA, June 23, 2008 - UPS (NYSE: UPS) today announced it expects earnings per diluted share for the second quarter within a range of $0.83-to-$0.88 compared to the $0.97-to $1.04 per share the company originally anticipated.
Slow U.S. economic growth and an unprecedented increase in the cost of fuel have resulted in lower-than-expected U.S. package volume and an accelerating contraction in the use of premium air products. In addition, the anemic U.S. economy is negatively impacting package volume into the United States, affecting results for the International segment. Performance in the Supply Chain & Freight segment is continuing to exceed expectations.
On July 22, UPS will release second quarter results followed by a conference call to provide insight into the quarter and remainder of the year.
ICK MAN
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- ickplus
- Politically conservative, religiously evangelical, economically pro free markets, free enterprise, and small government but opposed to corporate and individual greed.
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