UPS is sliding after weak earnings

UPSPhoto by Scott Olson/Getty ImagesA UPS worker delivers packages on December 26, 2013 in Chicago, Illinois. Bad weather and a higher than expected demand from online sales caused FedEx and UPS to miss many Christmas delivery deadlines.

UPS, the logistics and package delivery company, is sliding after posting weaker than expected fourth quarter earnings.

Earnings came in at $1.63 per share for the quarter, below analysts’ estimates of $1.69. Revenue was also slightly light at $16.9 billion versus projections of $17 billion for the quarter.

Guidance also came in short of the market expected. UPS said it expected 2017 full year earnings per share between $5.80 and $6.10 a share, lower than the $6.17 expected by Wall Street.

“The International segment delivered another extraordinary performance, while the US managed through considerable changes in product mix,” said UPS CEO David Abney in a press release accompanying earnings.

Shares of the company were down just over 4% in pre-market trading as of 8:19 a.m. ET.

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