Breaking News Bar
updated: 9/18/2012 7:18 AM

FedEx says economy is worsening, cuts outlook

hello
Success - Article sent! close
  • FedEx says the global economy is worsening and it's again cutting its forecast for the fiscal year ending in May.

      FedEx says the global economy is worsening and it's again cutting its forecast for the fiscal year ending in May.
    Associated Press

 
Associated Press

NEW YORK -- FedEx says the global economy is worsening and it's again cutting its forecast for the fiscal year ending in May.

The package delivery company also expects net income for the current quarter ending in November to fall well below last year's quarter. The stock lost about 2 percent.

Order Reprint Print Article
 
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

For the full year, the Memphis, Tenn. company now expects to earn between $6.20 and $6.60 per share, compared with a previous forecast of $6.90 to $7.40 per share.

For the current quarter, FedEx sees earnings of $1.30 to $1.45 per share, compared with $1.57 per share last year. Both predictions are well under analysts' forecasts.

In the three months that ended in August, FedEx Corp. reported earnings of $1.45 per share. That hit the top end of its recently lowered estimate.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
    help here