FedEx Corp. says slow-but-steady economic growth should produce strong earnings for the current quarter, although fuel prices and Mideast turmoil remain big uncertainties.
The world's second-largest package delivery company was upbeat about the fourth quarter and year ending in May, saying revenue should continue to improve and its freight unit should return to profitability after 6 money-losing quarters.
FedEx issued the outlook on Thursday as it reported that third-quarter earnings fell 3 percent. Rising fuel prices and harsh winter weather offset a double-digit rise in revenue.
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The world's second-largest package delivery company was upbeat about the fourth quarter and year ending in May, saying revenue should continue to improve and its freight unit should return to profitability after 6 money-losing quarters.
FedEx issued the outlook on Thursday as it reported that third-quarter earnings fell 3 percent. Rising fuel prices and harsh winter weather offset a double-digit rise in revenue.
full story
