UPS - Why UPS Stock Ran Off the Road This Week
2024-07-25 14:46:16 ET
Higher costs and weak pricing caused United Parcel Service (NYSE: UPS) to miss expectations in the second quarter, and left analysts reconsidering the company's prospects for the quarters to come.
Shares of UPS were down 11% for the week as of midday Thursday, according to data provided by S&P Global Market Intelligence , as investors react to reset expectations.
UPS earned $1.79 per share in the second quarter on sales of $21.8 billion, missing Wall Street's estimate for $1.99 per share on revenue of $22.2 billion. The transportation giant also revised its full-year revenue forecast to about $93 billion, from previous guidance of between $92 billion and $94.5 billion in sales.
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Why UPS Stock Ran Off the Road This Week