UPS says its third-quarter earnings sank on a huge penalty to withdraw from a pension plan. Without that charge, net income fell slightly but matched expectations on Wall Street.
The world's largest package delivery company is also narrowing its earnings forecast for the full year.
UPS says it earned $469 million, or 48 cents per share, in the most recent quarter, compared with $1.07 billion, or $1.09 per share, a year earlier. Without the huge charge, it earned $1.03 billion, or $1.06 per share.
Revenue fell less than 1 percent to $13.07 billion.
FactSet says analysts expected a profit of $1.06 per share on revenue of $13.32 billion.
United Parcel Service Inc. says improving international operating profit countered declines in the U.S. package and freight segments.
Wednesday, May 22 2013 12:39 PM EDT2013-05-22 16:39:03 GMT
Gov. Nathan Deal says a company based in Dubai plans to build a manufacturing plant in Murray County with the goal of creating 200 jobs over the next three years.
Gov. Nathan Deal says a company based in Dubai plans to build a manufacturing plant in Murray County with the goal of creating 200 jobs over the next three years.
Yahoo is buying online blogging forum Tumblr for $1.1 billion as CEO Marissa Mayer tries to rejuvenate an Internet icon that had fallen behind the times.
After falling woefully out of fashion, Yahoo wants to be cool again while catering to the capitalistic demands of its shareholders. That goal led CEO Marissa Mayer to make a $1.1 billion bet on online blogging forum Tumblr...
Wednesday, May 15 2013 5:41 AM EDT2013-05-15 09:41:00 GMT
The recession hasn't spared any age group, but it's been especially hard on seniors. More and more Americans 62 and older are turning to reverse mortgages to supplement their cash. But is it right for you?
The recession hasn't spared any age group, but it's been especially hard on seniors. More and more Americans 62 and older are turning to reverse mortgages to supplement their cash. But is it right for you?
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