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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