Shares of United Parcel Service, Inc. (UPS) advanced to $99.24 at the close yesterday in New York and have fallen more than 1% in pre-market trading Thursday, after the company that offers services in the package and freight delivery industry reported fist quarter 2014 revenue and EPS that fell short of estimates.
UPS reported earnings of $911 million, or $0.98 per share for the quarter, a $0.10 decline from a year ago. The consensus estimate was for EPS of $1.08. The Atlanta-based company blamed unusually harsh weather for a $200 million operating-profit hit, due to increased expenses and slower revenue growth.
“Much of the U.S. economy was negatively affected by the severe weather conditions in the first quarter, resulting in lower UPS operating results versus the prior year,” Scott Davis, UPS chairman and CEO, said in a statement.
Operating profit for the quarter was $1.5 billion, down $106 million from the prior-year’s adjusted results. Revenue in the three months ended in March rose to $13.78 billion, but that’s still lower than $13.91 billion that analysts had forecast.
UPS has an average 30 day trading volume of 3.3 million shares. The ticker has a 52wk range of $83.01 – $105.37. The company has a current market cap of $91 billion and a t-12 P/E ratio of 21.50.
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