Thursday, July 10, 2014

FedEx cuts estimate for June-to-August quarter

February 16. 2013 10:01PM
Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle

(AP) FedEx is cutting its earnings expectations, blaming the weak global economy.

FedEx Corp. said Tuesday it expects to earn between $1.37 and $1.43 per share in the quarter that ended Aug. 31. That's down from an original forecast of $1.45 to $1.60 per share.

Analysts were expecting $1.56 per share, according to FactSet.

The shortfall is primarily in the package-delivery company's express division. The speedy shipping division, which moves 3.5 million packages on an average day, has been hit hard as customers shift to slower delivery methods to conserve cash as the economy has slowed.

FedEx reports fiscal first-quarter results on Sept. 18. Shares fell 3 percent in after-hours trading.

Associated Press

comments powered by Disqus Commenting Guidelines
Mortgage Minute

Search for New & Used Cars

Used New All

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals

Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds