UPS Shares Fall On Disappointing Earnings
Shares of UPS (NYSE: UPS) fell on Tuesday following a disappointing second quarter earnings report.
The company reported second-quarter EPS of $1.15 versus the estimated $1.17 per share, missing by 1.7 percent. Revenues came in at $13.35B versus the estimated $13.70B, missing by 2.6 percent. The shipping giant guided fiscal year EPS at a range of $4.50 to $4.70, lower than the previous guidance of $4.75 to $5.00 and versus the estimates of $4.82.
Bank of America downgraded UPS from Buy to Neutral after the announcement. Shares are down more than 5 percent in Tuesday's session.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.