UPS Misses Earnings Expectations, Blames It On The Weather
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Wilfredo Lee / AP
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Q1 earnings fell to $0.98 per share, missing analysts' expectation for $1.08.
Operating profit fell $106 million year-over-year to $1.5 billion.
But in big bold letters, UPS blames the weather.
In fact, the title of the company's earnings announcement was "Weather Impacts UPS 1Q Results."
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"Unusually harsh weather weighed on operating profit by approximately $200 million, due to increased expenses and slower revenue growth," said management.
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