The company said it has raised its estimate “primarily due to better-than-expected growth in FedEx International Priority and FedEx Ground volumes, coupled with the benefits of our continuing cost control programs.
 |
| Graf |
FedEx raises earnings outlook
FedEx raises earnings outlook
FedEx Corp. said it expects to earn $1.10 per diluted share for the second quarter ended Nov. 30. That’s down 30 percent from $1.58 per diluted share it earned in the same period a year earlier, but better than its previous guidance of 65 cents to 95 cents per share profit.
The company said it has raised its estimate “primarily due to better-than-expected growth in FedEx International Priority and FedEx Ground volumes, coupled with the benefits of our continuing cost control programs.
'Year-over-year growth in our U.S. overnight express and FedEx International Priority services increased each month during the quarter, aided by inventory restocking and our successful sales efforts,' said Alan B. Graf Jr., FedEx Corp. executive vice president and chief financial officer. 'Demand for our international services has improved significantly since the first quarter, particularly in Asia and Latin America.'
The company said it has raised its estimate “primarily due to better-than-expected growth in FedEx International Priority and FedEx Ground volumes, coupled with the benefits of our continuing cost control programs.
