Shares of United Parcel Service Inc. /zigman2/quotes/201245396/composite UPS +0.54% dropped 2.5% in premarket trading Tuesday, after the package delivery giant reported first-quarter profit that fell below expectations although revenue beat, and said it is unable to provide financial guidance given uncertainties over the impact of the COVID-19 pandemic. Net income fell to $965 million, or $1.11 a share, from $1.11 billion, or $1.28 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share fell to $1.15 from $1.39, below the FactSet consensus of $1.24. Revenue rose 5.1% to $18.04 billion, above the FactSet consensus of $17.27 billion, as domestic revenue rose 9.3% while international revenue fell 2.2%. UPS said it experienced "significant headwinds" from the impact of the coronavirus pandemic on its customers, coupled with higher self-insurance accruals. While UPS didn't provide full-year financial guidance, it said it expects 2010 capital expenditures to be $1 billion less then previous estimates, and that it is suspending stock repurchases for the year. The stock has lost 11.1% over the past three months through Monday, while the Dow Jones Transportation Average /zigman2/quotes/210598063/realtime DJT +1.88% has dropped 23.4% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.44% has declined 16.0%.