U.S. express mail service provider United Parcel Service (UPS) disappointed Wall Street Tuesday morning with its second-quarter results despite a rise in EPS of 7.5 percent year over year to $1.15.
The Street had expected $1.17 and the company also reported sales below expectations at $13.35 billion versus the $13.7 billion consensus estimate. “The results in the U.S. Domestic and Supply Chain and Freight segments were partially offset by the weakness in International,” said Chief Financial Officer Kurt Kuehn who rated the second-quarter performance as “mixed.”
UPS’s stock lost 4.6 percent to close at $74.34, in part because the company also reduced its guidance for the full year 2012 by 5 percent, lowering their estimate to $4.50–$4.70 per share.
