FedEx Corp. reported a net profit of $464 million for its fiscal first quarter ended Aug. 31, up 22% from net income of $380 million in the prior-year period.
FedEx Corp. reported a net profit of $464 million for its fiscal first quarter ended Aug. 31, up 22% from net income of $380 million in the prior-year period. Despite the profit rise, the Memphis-based express delivery carrier lowered per share earnings guidance for its full fiscal year ended May 31 from $6.35-$6.85 to $6.25-$6.75, reflecting slower-than-expected global economic growth. "The US and global economy grew at a slower rate than we anticipated during the quarter," ...
Subscribe to Access this Entire Article
"FedEx posts $464 million 1Q profit, downgrades full-year earnings " is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.