UPS tallies toll of holiday shipping overload, plans expansion

UPS said holiday shipping struggles took a $125 million toll on its financial results after its system was overloaded with packages in the week after Thanksgiving, leading to some delayed shipments and frustrated consumers.

The Sandy Springs-based shipping giant is working to expand its capacity to handle more packages, and announced Thursday it is ordering 14 additional Boeing 747-8 cargo jets and four Boeing 767s.

The company also said it is investing $12 billion in expansion and increased pension funding, which CEO David Abney called “an outgrowth of the opportunity for tax savings created by the Tax and Jobs Act.”