UPS Earnings Dip for First Quarter
Premium air deliveries fell 1.1 percent, and U.S. ground deliveries were off 1.6 percent. International export volume, however, showed solid growth, led by Asia and Europe. Average daily volume in Asia rose 11 percent, and Europe was up 13 percent.
"We have yet to see any significant evidence of a rebound in economic activity in the United States," UPS chief financial officer Scott Davis said. "Nevertheless, we are maintaining our earnings guidance for the second quarter, given three months ago, of 50 cents to 55 cents per diluted share."