UPS expects second-quarter profit below estimates
July 12 (Reuters) - United Parcel Service Inc, the world's No.1 package delivery company, estimated second-quarter profit below analysts' expectations, hurt by overcapacity in the global air freight market and a slowing U.S. industrial economy.
UPS said it expects to report second-quarter earnings of $1.13 per share. Analysts on average expected earnings of $1.20 per share, according to Thomson Reuters I/B/E/S.
The company's shares were down 4 percent at $87.90 in pre-market trading on Friday.
- Washington, DC city council raises minimum wage to $11.50/hr in 2016
- Winning ticket sold in California for Mega Millions lottery: official
- India removes barriers to U.S. embassy as anger grows over diplomat's arrest
- UPDATE 5-Mega Millions lottery winning tickets sold in California, Georgia -Officials
- U.N. told up to 500 killed in South Sudan clashes: diplomats