FedEx Lowers Guidance for Fiscal ‘09
FedEx Corp. said late Monday it was cutting its earnings forecast for fiscal year 2009 due to “significantly weaker economic conditions.”
The company lowered its earnings-per-share estimate to $3.50 to $4.75 per share, from a previous $4.75 to $5.25 for the fiscal year that ends May 31. 
FedEx said that the ongoing sluggish economy will offset any benefits from lower fuel prices.
FedEx also said its expects earnings of $1.58 a share for its fiscal second quarter, which ended Nov 30, down from a previous forecast of $1.40 to $1.60.
FedEx is ranked No. 2 on the Transport Topics 100 list of U.S. and Canadian for-hire carriers.
