Why UPS Shares Are Trading Lower Today

United Parcel Services, Inc. UPS shares are trading lower after the company reported worse-than-expected first-quarter EPS results. The company also withdrew its 2020 guidance and suspended share buybacks for 2020 amid the coronavirus.

UPS reported first-quarter earnings per share of $1.15, which missed consensus estimates of $1.23. The company reported quarterly sales of $18.035 billion, which beat the analyst consensus estimate of $17.21 billion.

UPS shares were trading down 5.35% at $97.09 on Tuesday at time of publication. The company has a 52-week high of $125.31 and a 52-week low of $82.