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UPS Net Up 2.2% on Strength in US

United Parcel Service Inc.'s (UPS) second-quarter profit rose 2.2% as the package giant saw a stronger performance from its U.S. package segment, offsetting weakness overseas. But the company reduced its per-share earnings guidance for the year to $4.50 to $4.70 a share from its April guidance of $4.75 to $5 a share. "Increasing uncertainty in the United States, continuing weakness in Asia exports and the debt crisis in Europe are impacting projections of economic expansion," Chief Executive Scott Davis said. Shares slipped 3.3% to $75.38 in recent premarket trading as results also missed expectations. The stock is up 6.5% so far this year. UPS continues to face a weak global air-freight market, which has suffered from slumping volume in Asia and a drop in exports to the U.S., though the shipping company said earlier this year its domestic package shipments are rising at a brisk pace. Earlier this month, UPS's freight division raised its rates by an average 5.9% for noncontractual shipments in the U.S., Canada and Mexico. And in May the company outlined plans to use a higher percentage of cash to finance its $6.8 billion purchase of Dutch package shipper TNT Express N.V. (TNTE.AE, TNTEY) and received authorization to buy back an additional $5 billion in stock. UPS reported earnings of $1.12 billion, or $1.15 a share, up from $1.09 billion, or $1.09 a share, a year earlier. Revenue edged up 1.2% to $13.35 billion. Analysts surveyed by Thomson Reuters expected a profit of $1.17 on revenue of $13.7 billion. Operating margin widenened slightly to 13.4% from 13.2%. U.S. package revenue increased 4.1% as the unit's operating profit climbed 14%. Daily volume rose 4%. In the international package business, revenue slipped 4.1% under pressure from currency fluctuations, weaker global economies and reductions in exports from Asia, while operating profit slid 10%. Average volume per day was flat at 2.3 million. Supply chain and freight revenue fell 1.7% to $2.28 billion. Write to Saabira Chaudhuri at saabira.chaudhuri@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Ups (UPS)
DateTimeHeadline
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05/02/201612:00:34Notice of Exempt Solicitation. Definitive Material. (px14a6g)
05/02/201611:00:00The UPS Store Kicks Off National Small Business Week with Small...
04/29/201603:03:00UPS Gets Boost From Efficiency Drive -- WSJ
04/28/201616:50:00Amazon Reports Another Profit
04/28/201615:20:00UPS Announces Changes to Finance Leadership Team
04/28/201609:39:07Current Report Filing (8-k)
04/28/201609:20:00MARKET SNAPSHOT: U.S. Stock Futures Tumble After Weak U.S. GDP...
04/28/201609:00:00UPS Earnings Rise as Deliveries Increase
04/28/201608:56:00UPS Earnings Rise as Deliveries Increase
04/28/201607:52:48Current Report Filing (8-k)
04/28/201607:45:00UPS Reports Record 1Q EPS
04/26/201615:13:00Looming German Airport-Staff Strike Threatens UPS Operations
04/22/201617:12:01Notice of Exempt Solicitation. Definitive Material. (px14a6g)
04/22/201616:09:27Statement of Changes in Beneficial Ownership (4)
04/18/201611:12:27Notice of Exempt Solicitation. Definitive Material. (px14a6g)
04/18/201609:30:00UPS to Release 1st Quarter Results on April 28, 2016

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