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

Yellow Terminals Sold for $1.9 Billion – XPO and Estes are Big Buyers

Most of Yellow’s terminal properties closed at auction on December 4, with XPO the biggest buyer, paying $870 million or nearly half of the $1.9 billion that the 128 properties yielded. XPO bought 28 properties and Estes bought 24.

Online Workshop: From Contract Campaign to Contract Enforcement

Hear from UPS Teamsters and guest speaker Teamsters General President Sean O'Brien about moving from contract campaign to contract enforcement this Sunday, December 10 at 12 PM EST/11 AM CT/10 AM MT/9AM PT. Register now.

View More News Posts