UPDATE: UPS Posts Drop In Q4 Earnings

United Parcel Service Inc. UPS reported in-line earnings for the fourth quarter. For 2015, UPS projects earnings of $5.05 to $5.30 per share, versus analysts' estimates of $5.31 per share. The Atlanta, Georgia-based company posted a quarterly profit of $453 million, or $0.49 per share, versus a year-ago profit of $1.17 billion, or $1.25 per share. Excluding special items, the company earned $1.25 per share. Its revenue climbed to $15.9 billion from $14.9 billion. However, analysts were expecting earnings of $1.25 per share on revenue of $15.77 billion. U.S. domestic revenue rose 7.5% to $10 billion, while international revenue, on a currency-neutral basis, surged 5.9% to $3.4 billion. Revenue in the supply chain & freight segment climbed 7.4% to $2.5 billion. Operating expenses increased to $15.1 billion versus $13 billion. The company delivered 1.3 billion packages in the quarter, a rise of 8.1% versus the year-ago period. In 2014, the company paid dividends of $2.4 billion, and repurchased more than 26 million shares for approximately $2.7 billion. "UPS customers were delighted with the high quality service we delivered during the holiday season," said David Abney, UPS chief executive officer. "However, the financial results were below our expectations.” UPS shares fell 0.73% to $99.40 in pre-market trading.