We talked about fuel surcharges in the past, and here it is, another form of new age rip-off>
FedEx Profit Rises on Fuel Charge and Global Growth >
Dec. 20 (Bloomberg) -- FedEx Corp., the world's largest air-cargo carrier, said second-quarter profit rose 8.5 percent on a fuel surcharge and increased global demand while projecting third-quarter earnings that trailed analyst estimates.
Net income increased to $511 million, or $1.64 a share, in the quarter ended Nov. 30, from $471 million, or $1.53 a share, a year earlier, the Memphis, Tennessee-based company said in a statement today. Sales climbed 10 percent to $8.93 billion.
The shipper, which attributed its third-quarter outlook to fuel surcharges that are trailing fuel prices, maintained its full-year forecast. FedEx benefited last quarter and in previous periods when fuel prices fell at a steeper rate than surcharges. |
