UPS raises 2011 view despite higher economic risk |
| The Associated Press - Apr 26, 2011 |
UPS expects the pace of the economic recovery to moderate because of risks like high oil prices, but it remains confident it can grow earnings significantly from a year ago.
The world's largest package delivery company on Tuesday raised its full-year earnings forecast after first-quarter net income rose 66 percent as customers paid more to move packages faster.
United Parcel Service Inc. now expects to earn $4.15 to $4.40 per share this year, implying growth of 17 to 24 percent from 2010. Its previous estimate was $4.12 to $4.35 per share.
Besides higher fuel prices, unrest in the Middle East and uncertainties surrounding nuclear fears in Japan are among the major risks to economic growth this year, Chief Financial Officer Kurt Kuehn said in an interview with The Associated Press. But UPS expects continued revenue growth across the world combined with higher prices and fuel surcharges to drive earnings.
Read Full Article from The Associated Press
- Posted: 2011-04-26 11:30:50
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