UPS suffered from the severe winter weather in the United States in the first quarter, which put pressure on profit. According to the American parcel deliverer, the profit on the American home market was 80 million dollars lower due to the very cold weather and also flooding.
The total net profit amounted to 1.1 billion dollars, from more than 1.3 billion dollars a year earlier. Turnover rose very slightly to almost 17.2 billion dollars. The underlying earnings per share of 1.39 dollars were lower than the 1.41 dollars predicted by UPS in March. In addition to weather conditions, the company also struggled with the shutdown of the US government.
CEO David Abney himself spoke of a good start of the year for UPS, with solid performance in all parts. The company maintained its profit forecast for the entire year.
Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]