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.

Get Advice Join TDU Donate

Recent News

Teamsters Say It's Time to Deliver on the Dream

TDU members are commemorating Martin Luther King Day with a national day of action to demand that UPS respect the day as a paid holiday and by telling employers it's time to deliver on the dream.

Lame-Duck IBT Leadership Appoints Tony Andrews to Replace Aloise

The IBT General Executive Board (GEB) has approved the recommendation by James Hoffa to appoint Tony Andrews as International VP for the Western Region, over the dissent of president-elect Sean O’Brien and nearly half of the GEB members.

View More News Posts