Interesting that FedEx is looking for a only a modest slowdown and lower fuel prices ahead.
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Tuesday September 19, 11:22 am Eastern Time
FedEx Sees Earnings at High End of Target
CHICAGO (Reuters) - FedEx Corp. (NYSE:FDX - news), the No. 1 air express package shipper, said Tuesday it expects earnings per share growth for the year to be at the high end of its 10-15 percent target.
Analysts on average expect the company to post earnings of $2.63 a share in the fiscal year ending May 2001, up from $2.32 a share, or a 13.4 percent increase, according to First Call/Thomson Financial.
``The earnings estimates by the analysts who follow us appear reasonable,'' Alan Graf Jr., chief financial officer for Memphis, Tenn.-based FedEx, said. ``That depends, of course, on a soft landing for the economy and fuel prices mitigating from the high levels that they are at.''
Earlier Tuesday, FedEx reported net income of $169 million, or 58 cents a share, for the first quarter ended Aug 31, up from $159 million, or 52 cents, a year ago.
FedEx shares were up 17 cents at $38.78 Tuesday. |
