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The
Atlanta-based company said that without the impact of the U.S.
currency on its results, revenue would have been up for the
quarter. UPS also said that lower fuel surcharge revenue had
weighed on results.
"Third-quarter results reflect strong progress on our long-term
initiatives despite uneven economic conditions," Chief Executive
David Abney said in a statement.
UPS reported third-quarter net profit of $1.26 billion, or $1.39
per share, up 4 percent from $1.21 billion, or $1.32 per share,
a year earlier.
Analysts, on average, expected earnings per share of $1.37.
UPS said that it expects full-year earnings per share to come in
at the high end of its previously-announced forecast of a range
from $5.05 to $5.30.
Revenue for the quarter fell slightly to $14.24 billion from
$14.29 a year earlier. Analysts had expected revenue for the
quarter of $14.43 billion.
The company said on a currency neutral basis, its revenue would
have been up 1.8 percent. The strong U.S. dollar means that
sales overseas are lower when translated into dollars.
In pre-market trading, UPS shares were down 3 percent at $103.
(Reporting by Nick Carey; Editing by Jeffrey Benkoe and Nick
Zieminski)
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