UPS misses estimates, cuts 2012 outlook

July 24 Tue Jul 24, 2012 7:57am EDT

July 24 (Reuters) - United Parcel Service reported higher quarterly results that missed forecasts and the world's largest package delivery company cut its 2012 outlook, citing uncertain global economic conditions.

UPS on Tuesday said net earnings rose to $1.12 billion, or $1.16 per share in the second quarter, from $1.092 billion, or $1.09 per share a year earlier.

Adjusted profit rose 7.5 percent to $1.15 per share compared with $1.07 per share a year earlier, when the company recorded two real estate transactions.

The company lowered its full-year outlook to $4.50 to $4.70 a share, from its prior estimate of $4.75 to $5.00 earnings per share.