UPS executives announced the company made $1.2 billion in profit after taxes for the first three months of 2019.

The haul was actually slightly less than the $1.35 billion predicted by Wall Street. UPS said winter storms cost the company $80 million.

UPS Freight profits increased by almost 18 percent from last year to $200 million for the quarter.

UPS predicts that profits for the year will exceed $6.5 billion—and Wall Street analysts agree.

UPS’s Earnings Statement

The Street: “Read UPS Delivers Lower than Expected Profits”