UPS (UPS) Misses Q1 EPS by 10c; Sees FY14 EPS at Low-End of Range
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EPS Growth %: -28.6%
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Compensation and benefits: 7.86B
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UPS (NYSE: UPS) reported Q1 EPS of $0.98, $0.10 worse than the analyst estimate of $1.08. Revenue for the quarter came in at $13.78 billion versus the consensus estimate of $13.91 billion.
“Much of the U.S. economy was negatively affected by the severe weather conditions in the first quarter, resulting in lower UPS operating results versus the prior year,” said Scott Davis, UPS chairman and CEO. “International and the Supply Chain and Freight segment benefitted from positive momentum during the quarter as customers utilized the strategic investments made by UPS to strengthen our portfolio.”
Unusually harsh weather weighed on operating profit by approximately $200 million, due to increased expenses and slower revenue growth. Average daily shipments in the U.S. climbed 4.2% driven primarily by large e-commerce shippers using lightweight deferred shipping solutions.
Sees FY14 EPS at low end of $5.05 - $5.30 range.
For earnings history and earnings-related data on UPS (UPS) click here.
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