FedEx Says 2Q Will Exceed Guidance

FedEx (NYSE: FDX) announced this afternoon that it anticipates it will report 2Q earnings of $1.10 per share. This is a substantial premium to the $0.65-0.95 guidance it previously provided.

A company spokesman said that the better than expected result was due to surprisingly robust grown in FedEx International Priority and FedEx Ground volumes. Additionally, said the spokesman, the company’s cost-cutting measures are having a positive effect on the bottom line.

In 2Q 2008, the company posted an EPS of $1.58.

FDX closed trading today down 41 cents to $87.52.