April 23 (Reuters) - United Parcel Service reported a decline in first-quarter profit on Tuesday, as margins came under pressure from subdued demand for small-package delivery and higher costs tied to a new labor contract with the Teamsters union.
The world's biggest package delivery firm by market capitalization posted an adjusted profit of $1.43 per share for the quarter, compared with $2.20 per share a year ago.
(Reporting by Ananta Agarwal in Bengaluru and Lisa Baertlein in Los Angeles; Editing by Devika Syamnath)
((Ananta.agarwal@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments