graphic
graphic  
graphic
News > Companies
graphic
UPS delivers mixed results
Profit falls in 2Q but meets forecasts; revenue rises but comes up short of estimates.
July 12, 2002: 10:53 AM EDT

NEW YORK (CNN/Money) - United Parcel Service met second-quarter earnings forecasts with mixed results, the company reported Friday.

The world's largest transportation company earned net income of $611 million, or 54 cents a share, in line with the consensus forecast of analysts surveyed by earnings tracker First Call but down from the $630 million, or 55 cents a share, earned a year earlier. Revenue rose to $7.68 billion from $7.49 billion a year earlier, but it just missed the First Call forecast of $7.72 billion.

graphic
graphic graphic
graphic
The company said it will release additional details of its second-quarter results on its regularly-scheduled earnings release date of July 23, but that it moved up a partial earnings release because of the announcement that it will be added to the Standard & Poor's 500 index after the market close July 19.

The company also said that the initial release of data will make it easier to go ahead with its secondary stock offering of 32.5 million shares that will occur with its inclusion in the S&P 500. The offering is slightly bigger than the 30 million shares the company previously announced would occur when it was added to the S&P. The additional shares are needed to meet mutual fund demand to mirror the S&P.

Shares of UPS (UPS: Research, Estimates) edged down early Friday.  Top of page






  graphic

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.