UPS profit hit by pension restructuring costs

Other Service Providers

Tuesday, October 23, 2012

UPS said it had a profit of $469 million in the third quarter, 56 percent down from the $1.07 billion earned in the same 2011 period. The company noted in August it had announced a decision to restructure pension liabilities for certain employees. As a result, UPS recorded an after-tax, non-cash charge of $559 million during the quarter. Revenue was $13.1 billion in the quarter, down less than 1 percent from the figure recorded in the third quarter last year. &nb...

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