FedEx Corp. (NYSE: FDX) has just posted earnings of $1.26 EPS on 9.44 Billion in revenues, while First Call had estimates at $1.23 EPS on $9.148 Billion in revenues.
FedEx’s guidance is a bit of a disappointment, although on the commentary more than the net results seen ahead. It sees next quarter estimates at $1.60 to $1.80 vs. $1.95 estimates. But its guidance is based on the assumption so long as the economy doesn’t weaken further and so long as fuel prices don’t rise further. Those are some interesting assumptions considering the current economic situation.
The company is also cutting its FedEx Kinko’s expansion rates in the U.S. this year, which sounds a lot like a coffee company we all know. FedEx also noted that growth looks very limited in 2008.
So far, shares look limited too in early pre-market trading. Shares are down over 3% at $83.00, close to its $80.00 52-week low.
Jon C. Ogg
March 20, 2008
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
