On Thursday, shipping logistics company UPS released its third financial quarterly report, revealing the company’s sharp drop in earnings Q3.
UPS reportedly pulled in an adjusted net income of $1.3 billion during Q3, down 43% year-over-year.
The company cited the slowing global economy as the reason for its earnings decline, rather than its recently settled labor dispute.
As a result, UPS lowered its full-year profit margin and revenue outlook.
