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UPS Profit Falls Short; Issues Weak 2013 Guidance

UPS United Parcel Service
David Paul Morris | Bloomberg | Getty Images

United Parcel Service reported fourth-quarter earnings below analysts' estimates and set a weaker-than-expected profit forecast for 2013, sending its shares lower.

UPS, the world's largest package-delivery company, said on Thursday that it expected earnings to rise 6 percent to 12 percent in 2013, to $4.80 to $5.06 per share, below the average Wall Street forecast of $5.11.

The company posted a fourth-quarter net loss of $1.75 billion, or $1.83 per share, after a $3 billion noncash charge for pension accounting. In the year-earlier period, it earned $725 million, or 74 cents per share.

Factoring out one-time and noncash items, the profit came to $1.32 per share, below the analysts' average estimate of $1.38, according to Thomson Reuters I/B/E/S.

Revenue rose 2.9 percent to $14.57 billion from $14.17 billion.

After the earnings announcement, the company's shares fell in pre-market trading. (Click here to see how UPS shares are trading after the closing bell.)

Earlier this month UPS dropped its $7 billion bid for Dutch delivery firm TNT Express after European regulators said they would veto the deal, citing antitrust concerns.

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