Global shipper UPS just reported preliminary earnings of $1.13 per share in the second quarter, below consensus estimates for $1.20 EPS, and lowered its guidance for full-year earnings as well. The company cites several factors expected to weigh on earnings when the company officially reports its Q2 results on July 23: UPS (UPS) today announced that second quarter diluted earnings per share are expected to be $1.13. Overcapacity in the global air freight market, increasing customer preference for lower-yielding shipping solutions, and a slowing U.S. industrial economy drove revenue and operating profit below expectations. In addition, UPS experienced some slowing in package volume growth as...
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