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.
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