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.

Get Advice Join TDU Donate

Recent News

Herman Benson: A One-Man Army Working to Revitalize the Labor Movement

My friend Herman Benson died yesterday, just shy of his 105th birthday. He was an inspiration, a leader, and sometimes a critic for so many of us working to put the membership front-and-center in the Teamsters and in the whole labor movement.

YRCW Gets $700 Million CARES Act Loan!

The US Treasury will loan YRCW $700 million under authorization from the CARES Act. $350 million will be used to make H&W and pension benefit payments, and the other $350 million will go to investment in tractors and trailers.

View More News Posts