UPS lowers Q2 outlook
Published: Jun 26, 2008
Global – UPS has lowered its forecast for the second quarter as it grapples with a slowing US economy and high fuel costs.
UPS said earnings per diluted share for the second quarter is expected to slip to US$0.83 - US$0.88 from a range of US$0.97 - US$1.04 projected earlier.
The logistics company said slow US economic growth is negatively impacting package volume into the US, hurting results in its international business unit.
Record-high fuel costs have also been blamed for lower-than-expected US package volume and a contraction in the use of premium air products.
Its supply chain and freight segment however, remains healthy, the company said.
UPS will release its second quarter results on 22 July.
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