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Newspaper
Sun Journal
Location
New Bern, North Carolina, United States of America
Date
Feb 01, 2019
Page
5
Indianapolis 500 will have Gainbridge as presenting sponsor replacing PennGrade after a multiyear deal. IndyCar's 2019 season advances with NTT as title sponsor and NBC set to air eight of 17 races. The May 26 race remains a highlight as March 10 opens in St Petersburg.
UPS reported fourth quarter profit of 453 million including a 1.24 billion pension charge, but core earnings rose to 1.94 per share vs 1.58 expected. Revenue reached 19.85 billion, shy of a 19.97 billion forecast as the firm noted continued investments in sorting centers and automation paid off with a strong holiday season. Shares rose about 6 percent to 107.30.
UPS delivered an average of 21 million packages daily in the United States this quarter and plans to open or upgrade 18 facilities this year as it bets on heavy investment. CFO Richard Peretz cited expected ROI while analyst Daniel Sherman noted faster benefits and stronger international results. CEO David Abney said growth will endure a trade policy slowdown but benefit from network investments and targeting SMB customers.
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