UPS (UPS) Follows FedEx (FDX) Into Tank: Slashes Outlook on Weak Economy

Last week, FedEx (FDX) slashed its outlook because of:

  • $140 oil
  • a weak economy

Today, UPS (UPS) slashed its outlook because of:

  • $140 oil
  • a weak economy

The shipping giant said it expects EPS for Q2 to be between $0.83 and $0.88, compared with the $0.97 to $1.04 the company had previously expected.

Just last April, during its Q1 earnings announcement, UPS cut its guidance for the year. But the current quarter has been even more of a struggle than UPS had antipicated only a few months ago.

See Also: FedEx (FDX) Cuts Outlook: $130 Oil Is Killing You and Us (FDX)

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