ATLANTA (AP) – UPS swung to a loss in its fourth quarter mostly on a hefty pension-related charge, but the delivery company’s adjusted results met Wall Street’s view.
UPS lost $106 million, or 12 cents per share, in the quarter. A year ago the Atlanta company earned $453 million, or 52 cents per share.
Stripping out a $1.8 billion pension-related charge and other items, earnings were $2.11 per share. That met the expectations of analysts polled by FactSet.
Revenue climbed to $20.57 billion from $19.85 billion. Wall Street called for $20.67 billion.
The company said its daily volume rose almost 9% in the U.S., while next day air volume surged nearly 26%.
United Parcel Service Inc. said Thursday it’s expanding weekend services and speeding up time-in-transit for small and medium-sized businesses this year.
UPS foresees a 2020 adjusted profit of $7.76 to $8.06. Analysts predict earnings of $8.03 per share.
Shares declined slightly before the market open.