Investing.com - Global shipping giant UPS reported lower-than-expected fourth-quarter earnings as weather-related effects from Hurricane Sandy weighed on results, it said on Thursday.
Earlier in the day, in its fourth quarter earnings report, UPS said earnings per share came in at USD1.32, below expectations for USD1.38 per share.
The shipping company took a USD0.05 charge due to the effect from Hurricane Sandy on business activity.
The company’s fourth quarter revenue totaled USD14.57 billion, above expectations for revenue of USD14.43 billion.
Scott Davis, UPS Chairman and CEO, said, “2012 presented its challenges, most notably weak global trade.”
UPS expects 2013 revenue in the range of USD4.80 to USD5.06 a share versus estimates of USD5.13 per share.
Following the release of the report, shares in UPS fell 2.1% in pre-market trade.
Meanwhile, the outlook for U.S. equity markets was lower. The Dow Jones Industrial Average futures indicated a loss of 0.3% at the open, S&P 500 futures declined 0.4%, while the Nasdaq 100 futures indicated a drop of 0.2% at the open.
Earlier in the day, in its fourth quarter earnings report, UPS said earnings per share came in at USD1.32, below expectations for USD1.38 per share.
The shipping company took a USD0.05 charge due to the effect from Hurricane Sandy on business activity.
The company’s fourth quarter revenue totaled USD14.57 billion, above expectations for revenue of USD14.43 billion.
Scott Davis, UPS Chairman and CEO, said, “2012 presented its challenges, most notably weak global trade.”
UPS expects 2013 revenue in the range of USD4.80 to USD5.06 a share versus estimates of USD5.13 per share.
Following the release of the report, shares in UPS fell 2.1% in pre-market trade.
Meanwhile, the outlook for U.S. equity markets was lower. The Dow Jones Industrial Average futures indicated a loss of 0.3% at the open, S&P 500 futures declined 0.4%, while the Nasdaq 100 futures indicated a drop of 0.2% at the open.