UPS books loss after big pension charge, sees 2013 profit up

Reuters
January 31, 2013

United Parcel Service Inc reported a net loss in the fourth quarter after a $3 billion one-time charge from pension accounting, and forecast that 2013 earnings would rise 6 percent to 12 percent.

UPS, the world's largest parcel delivery company, on Thursday posted a fourth-quarter net loss of $1.75 billion, or $1.83 per share, after the non-cash charge. A year earlier, it earned $725 million, or 74 cents per share.

Earlier this month UPS dropped its $7 billion bid for Dutch delivery firm TNT Express after European regulators said they would veto the deal, citing antitrust concerns.


Be the first to comment

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

Recent News

Arbitrator Waters Down 9.5 Rights at UPS

UPS drivers’ rights were watered down when the IBT lost an important arbitration decision on 9.5 protections against excessive overtime.

Jack Cooper Concessions Deal Goes Through

Carhaul Director Kevin Moore announced Teamsters at Jack Cooper have accepted a “Restructuring Term Sheet” that allows for concessions under the current carhaul contract. The company claimed they needed new terms to stay in business. The vote was 868 Yes to 427 No.

View More News Posts