"Big Brown" posted adjusted net income of $1.2 billion, or $1.39 a share, vs. $1.4 billion, or $1.55 a share, in the comparable year-earlier period. Analysts polled by FactSet had been expecting earnings of $1.42 a share.
The tough winter affected profit by about $80 million, or 7 cents a share, the company said in its earnings statement. Revenue was roughly the same as the year-earlier quarter: $17.16 billion vs. $16.11 billion.
Shares of UPS slid 8.7% to $104.48 in trading on Thursday.
On a conference call with analysts, the company warned that second-quarter adjusted earnings per share will be "relatively flat" compared with the $1.94 of a year earlier. That's below analysts' prediction of $2.02.
However, it did reaffirm its guidance going forward, reiterating its earlier 2019 per-share adjusted earnings forecast of between $7.45 and $7.75. That estimate includes pension financing cost headwinds of about $325 million, the company said.
The current median forecast of analysts surveyed by FactSet is for full-year adjusted earnings of $7.52.
"Transformation is creating a firm foundation for performance well into the future," UPS CFO Richard Peretzsaid in a statement. "Our strategies and initiatives are driving additional network efficiency and flexibility, and we remain confident in achieving our targets for the year."