UPS Profit Falls 4% as Shipping Income Slides

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

July 23 (Bloomberg) -- Bloomberg's Dominic Chu reports that United Parcel Service Inc. saw second-quarter profit fall 4 percent after lowering its full-year forecast earlier this month due to the slowing U.S. economy. He speaks on Bloomberg Television's "In The Loop."

We will crack the code of what is next for the tech heavyweights.

From bloomberg world headquarters, this is "in the loop" with betty liu.

Good morning.

We're live from bloomberg world headquarters.

. we have all the top stories.

Dominic chu is tracking qps earnings.

They lower their outlook earlier this month.

Julie hyman is watching radioshack.

They are reporting a loss in the last hour.

Scarlet fu is continuing the earnings parade.

A company shocked investors when they try to regain the missed estimates.

In washington, peter cook watching fannie mae and freddie mac as a deal to shut this down.

Let's go into the newsroom with dominic chu.

Quacks like you said, there was no real surprise on the ups story.

They set a dollar 13 per share earnings.

They announced this morning when dollar $.13 per share earnings.

That met the prior guidance.

Revenue is a slight miss.

You get second-quarter quarter revenues coming in at 13.5 billion dollars.

The final was $13.6 billion.

They'd do sayee 13% year over year.

As it comes to the segment rate down, they have three big divisions, domestic package delivery.

A .42 billion dollars in terms of revenue.

$8.3 billion was the average analyst estimate.

On the international package side, three $.1 billion comes in a little bit better than the average analyst estimate.

$2.2 billion versus estimates or this.

It is always about the forecasts for companies, especially great companies like ups.

They cite the a justice -- adjusted eps will be between or dollars and $.65 -- 4.65 and 4.85. no more overnight packages.

We want to do second day or it heard air, maybe ground transportation.

Also a slowing u.s. industrial economy.

That is as well.

One of the things we keep don we got reaffirmation was this.

They said results were below our expectations as a rebuttal -- result of a slight missing international packages.

We are focused on the long-term strategy and adapting to changing market conditions.

This is going to happen at 830 a.m. they're going to go on the record about what is going to happen with a new strategy.

The interesting part is whether or not they're going to have any more commentary on what exactly it'll take for for ups to turn things around.

One of the competitors is going through this cost-cutting program to get their businesses more in line with the kind of demand there is.

A slowing asian economy, all of these things will weigh in on these all over the world.

What it really comes down to for a company like ups is whether or not they will be able to continue that momentum, show that signs of strain.

These are global -- signs of strength.

They are global bellwethers.

A huge 1, 830 a.m. eastern.

That is when the headlines will hit.

We will be watching those very healthy -- very closely.

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change