• ITVI.USA
    15,839.740
    -5.440
    0%
  • OTLT.USA
    2.799
    -0.007
    -0.2%
  • OTRI.USA
    22.070
    0.480
    2.2%
  • OTVI.USA
    15,836.590
    -10.170
    -0.1%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
  • ITVI.USA
    15,839.740
    -5.440
    0%
  • OTLT.USA
    2.799
    -0.007
    -0.2%
  • OTRI.USA
    22.070
    0.480
    2.2%
  • OTVI.USA
    15,836.590
    -10.170
    -0.1%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
American Shipper

FEDEX 3RD-QUARTER PROFIT UP 11%

FEDEX 3RD-QUARTER PROFIT UP 11%

      FedEx Corp. on Wednesday said its fiscal third-quarter net profit rose 11 percent to $120 million, due to strong growth at FedEx Ground, cost control efforts at FedEx Express and improved productivity at its core operating companies.

   The Memphis-based integrator said operating income rose 24 percent to $237 million, on revenue of $5.02 billion, up 4 percent, for the period ended Feb. 28.

   FedEx Express' fourth-quarter operating income fell 9 percent to $145 million, on revenue of $3.78 billion, about even with the year-earlier period. U.S. domestic daily package volume declined 5 percent year-over-year, while package volume from its FedEx International Priority service slipped 2 percent. Those declines were offset by strong growth in weight of FedEx Express' transportation agreement with the U.S. Postal Service.

   FedEx Ground saw operating income leap 283 percent to $69 million, on revenue of $668 million, up 26 percent. Volume grew 21 percent, due primarily to core business-to-business shipments and from the company's expanding FedEx Home Delivery operation. Yield increased 6 percent.

   FedEx Freight, the company's less-than-truckload unit, saw operating income of $20 million, up from $18 million in the year-earlier quarter, on revenue of $440 million, up from $337 million.

   FedEx said it continues to expect fiscal fourth-quarter earnings to be 70 to 80 centers per diluted share, compared to 64 centers per share for the year-earlier period. The company expects fourth-quarter volume at FedEx Ground to grow about 16 percent year-over-year, while FedEx Express's domestic business will be down 2 percent and its International Priority shipments to be down about 1 percent.

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