FedEx Profit Trails Estimates as Shipment Growth Slows |
| Bloomberg - Dec 16, 2010 |
FedEx Corp., the second-largest U.S. package-shipping company, posted quarterly profit that trailed analysts’ estimates as growth slowed in international express deliveries and costs increased.
Profit excluding certain items was $1.16 a share in the fiscal second quarter, lagging behind the $1.32 average estimate of 20 analysts surveyed by Bloomberg. Sales for the three months through November rose 12 percent to $9.63 billion, FedEx said today in a statement. That trailed estimates of $9.77 billion.
Growth in international express shipments, FedEx’s most profitable business, slowed with volumes rising 11 percent in the quarter, down from gains of 20 percent or more in each of the previous two quarters. FedEx also faced higher fuel and maintenance costs for its jet fleet, and increased compensation expenses from restoring benefits trimmed during the recession.
Read Full Article from Bloomberg
- Posted: 2010-12-16 09:25:43
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