FedEx Raises 1Q, Yearly Profit Forecasts
FexEx Corp. Monday increased its earnings outlooks for the fiscal first quarter and fiscal year, citing better-than-anticipated volume growth in its FedEx Ground and FedEx Express units.
The parcel carrier said it expects earnings of $1.05 to $1.25 per share in the first quarter, which ends Aug. 31.
Previously, it had forecast 85 cents to $1.05 per share. FedEx had earned 58 cents per share in the first quarter of fiscal 2010.
For fiscal 2011, the company predicts profit of $4.60 to $5.20 per share, up from $4.40 to $5 per share earlier. It saw a $3.76-per-share profit in fiscal 2010.
FedEx Corp. is ranked No. 2 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
