Earnings Results
Adjusted profit matches expectations but revenue falls short
UPS sees U.S. volume fall more than expected as retail sales decelerate and continued weak demand in Asia.
United Parcel Service Inc.
Shares of United Parcel Service Inc. UPS dropped toward a one-month low Tuesday, after the package delivery giant matched profit expectations but fell short on revenue, as decelerating retail sales in the U.S. led to lower-than-anticipated volume.
Net income fell to $1.90 billion, or $2.19 a share, from $2.66 billion, or $3.03 a share, in the same period a year ago. Excluding nonrecurring items, adjusted earnings per share of $2.20 was the same as the FactSet consensus.
Revenue…
