UPS lowers 2nd quarter earnings per share guidance

UPS on Monday lowered its second quarter expectations, saying that slow U.S. economic growth and record fuel prices have contracted U.S. package and premium air volumes.

In addition, the anemic U.S. economy is negatively impacting package volume into the United States, affecting results for the International segment. Performance in the Supply Chain & Freight segment is continuing to exceed expectations, UPS said.

The company now expects earnings per diluted share for the second quarter within a range of 83 cents to 88 cents compared to the 97 cents to $1.04 per share originally anticipated. 

Source: American Shipper