UPS lowers earnings guidance, cites weaking economy & fuel costs

It's P/E ratio is 204!
[link to finance.yahoo.com]


United Parcel Service Inc. has cut its first-quarter earnings guidance to 86 cents or 87 cents a share, down from its previously expected range of 94-cents to 98 cents.

The Atlanta-based package shipping giant noted that at an investor conference in March, Chief Financial Officer Kurt Kuehn said UPS'(NYSE: UPS) earnings guidance for the quarter would be difficult to achieve if lower volume trends experienced in February continued through March. The U.S. economy has continued to weaken, causing a reduction in domestic package volume and a shift away from premium products, UPS said late Tuesday. Significantly increased fuel costs in the quarter also contributed to the lower-than-expected results.

On April 23, the company will discuss first-quarter results and its outlook for the year.