UPS Maintains Full-Year Earnings Forecast

AP

NEW YORK (AP) – UPS is holding steady to its earnings forecast for the year as it continues to expand in emerging markets and investing in new business.

The Atlanta company said Wednesday it still expects to earn between $4.12 and $4.35 per share for the full year, up 18 and 25 percent from 2010.

Revenue growth is expected in the "mid-to-high single digits." UPS posted 2010 revenue of $49.55 billion.

United Parcel Service Inc. expects to reach that goal with higher demand and prices. It's expanding facilities at home and abroad and expects to add seven more planes to its fleet this year.

FedEx Corp. on Monday sharply cut its profit forecast for the quarter ending later this month, citing higher-than-expected fuel costs and severe winter weather.

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