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

Online Workshop: Winning the Tough Disciplinary Grievance

Learn proven techniques for winning tough disciplinary grievances in our online workshop on Sunday, January 24 at noon Eastern, 11am Central, 10am Mountain, 9am Pacific.

Online Workshop: Organizing to Take On Workplace Issues

Contract enforcement starts with filing a grievance—but it doesn’t have to end there. Share strategies with Teamster stewards and activists on how to involve members in taking on workplace problems in our online workshop on Sunday, January 17.

View More News Posts