United Parcel Service Inc. reported higher quarterly results that
missed forecasts and the world’s largest package delivery company cut
its 2012 outlook, citing uncertain global economic conditions.
The company lowered its full-year outlook to $4.50 to $4.70 a share, from its prior earnings estimate of $4.75 to $5.00 per share, and said customers are more concerned about the economy in the second half of the year.
“Increasing uncertainty in the United States, continuing weakness in Asia exports and the debt crisis in Europe are impacting projections of economic expansion,” Scott Davis, UPS chief executive officer, said in a statement.
The revised full-year outlook would represent an increase of between 3 per cent and 8 per cent over 2011 adjusted results.
UPS on Tuesday said net earnings rose to $1.12-billion, or $1.16 per share in the second quarter, from $1.092-billion, or $1.09 per share a year earlier.
Read more: http://www.theglobeandmail.com/globe-investor/ups-misses-estimates-cuts-2012-outlook/article4437176/?cmpid=rss1
The company lowered its full-year outlook to $4.50 to $4.70 a share, from its prior earnings estimate of $4.75 to $5.00 per share, and said customers are more concerned about the economy in the second half of the year.
“Increasing uncertainty in the United States, continuing weakness in Asia exports and the debt crisis in Europe are impacting projections of economic expansion,” Scott Davis, UPS chief executive officer, said in a statement.
The revised full-year outlook would represent an increase of between 3 per cent and 8 per cent over 2011 adjusted results.
UPS on Tuesday said net earnings rose to $1.12-billion, or $1.16 per share in the second quarter, from $1.092-billion, or $1.09 per share a year earlier.
Read more: http://www.theglobeandmail.com/globe-investor/ups-misses-estimates-cuts-2012-outlook/article4437176/?cmpid=rss1
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