UPS sees natural disasters constrain domestic performance, although international business remains solid
United Parcel Service Inc. (NYSE:UPS) saw the impact of natural disasters, such as the hurricanes which hit the US in August and September, constrain its domestic performance in the third quarter, although its international business remained solid.
The package delivery giant reported third-quarter net income of US$1.26bn, or US$1.45 a share, in line with the consensus forecast, fairly flat compared with the US$1.27bn, or US$1.44 a share posted a year earlier.
The firm said natural disasters reduced profits from its domestic segment by about US$50mln.
UPS’s quarterly revenue increased by 7% to US$15.98bn, beating consensus of US$15.63bn, helped by an 11% rise in its international package unit and 13% growth in supply chain and freight revenue, although the 3.9% increase in domestic package revenue was a bit shy of forecasts.
The NYSE firm raised its 2017 adjusted earnings guidance range to US$5.85 to US$6.10 per share, up from US$5.80 to US$6.10 previously.
In pre-market trading in New York, UPS shares edged 0.1% lower to US$118.48.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/186277/ups-sees-natural-disasters-constrain-domestic-performance-although-international-business-remains-solid-186277.html
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