UPS takes $1.8 billion pension hit

UPS takes $1.8 billion pension hit

United Parcel Service has taken a hit of $1.8 billion related to its pension plan, sending shares lower. UPS lost $106 million, or 12 cents a share, despite revenue climbing 3.6 percent to $20.57 billion. Looking ahead, the company has predicted a full-year EPS of $7.76 to $8.06, below the consensus mark of $8.03. The company forecasts weakness on the industrial side of the US and global economy.

Chris
Chris
Paul C
Paul C 1 months

"$1.8 billion mark-to-market pension charge" Mark-to-market was the accounting trick that helped Enron implode. Hope UPS' accountants are smarter than the guys from Arthur Andersen (also defunct due to that scandal).

Fin
Fin 1 months

Paul omg Eron was so filthy corrupt... The ppl on west coast still paying for their implosion via their energy bills... Read the smartest one in the board room.. N some of em from that still operating now in hedge funds

Craig
Craig 1 months

Ha ha ha ha ha... UPS reports taking care of workers who have pledged their lives to the company store as a Market Loss. Welcome to the new corporate mainstay: disloyalty.

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