Pension charge pushes UPS 4Q results into the red

The Associated Press
January 31, 2013

UPS is reporting a fourth-quarter loss of $1.75 billion because of a $3 billion accounting charge for pension liabilities.

Without the pension item, UPS said Thursday that it would have earned $2.05 billion, or $1.32 per share. That includes a loss of 5 cents per share from Hurricane Sandy.

Analysts had expected UPS to post adjusted earnings of $1.38 per share. The company says it was slowed down by weak global trade and a disappointing holiday shopping season.

Revenue of $14.57 billion came in just above estimates of $14.48 billion.

Shares fell 2.4 percent to $79.28 in premarket trading.

United Parcel Service Inc. says consumer spending on holiday shopping was less than expected, although it still carried record numbers of packages, including nearly 28 million on the busiest day.


Be the first to comment

Please check your e-mail for a link to activate your account.
Get Advice Join TDU Donate

Recent News

Update on IBT Election Protest

The Hoffa-Hall administration spent millions in dues money to delay corruption investigations. In a new ruling, the Election Appeals Master has sent this issue back to the Election Supervisor for further investigation. 

Register for the 2017 TDU Convention

Join Teamsters and TDU members for three days of education and organizing to rebuild union power, October 27 - October 29 in Chicago.

View More News Posts