EmailUPS (UPS $75.00 -2.95) reported second quarter earnings of $1.15 per share, $0.02 worse than the Capital IQ consensus of $1.17, while revenues rose 1.2% year/year to $13.35 billion versus the $13.68 billion consensus. The company issued downside guidance for FY12, lowers EPS to 4.50-4.70 from $4.75-5.00 versus the $4.83 consensus. UPS expects to close on the TNT transaction during the fourth quarter. "The company's performance was mixed during the second quarter.
The results in the U.S. Domestic and Supply Chain and Freight segments were partially offset by the weakness in International. As we look toward the second half of the year, customers are more concerned as greater uncertainty exists "Increasing uncertainty in the United States, continuing weakness in Asia exports and the debt crisis in Europe are impacting projections of economic expansion."
