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Citing Strong Demand, FedEx Raises Fiscal 4Q Guidance
edEx Corp. said Thursday it expected to report earnings of $1.36 per share for the fiscal fourth quarter ended May 31, higher than its previous guidance of $1.20 to $1.30.
"We are seeing strong demand across our entire portfolio of services, both domestic and international," Frederick Smith, chairman and chief executive officer, said in a statement. "We continue to see strong and sustainable economic recovery across many sectors of the economy that we serve." FedEx said its new estimate included realignment costs and a 4 cent benefit from a reduction in the effective income tax rate.
The company, ranked No. 2 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies, said it would release its earnings report on June 23.
