Notices
Cargo Part 121 cargo airlines

FedEx Earnings Grow

Old 09-21-2005, 09:34 AM
  #1  
Gets Weekends Off
Thread Starter
 
Diesel 10's Avatar
 
Joined APC: Jun 2005
Position: 757 captain
Posts: 151
Default FedEx Earnings Grow

FedEx 1Q Profit Rises on Shipping Growth
FedEx First-Quarter Profit Rises Modestly on Shipping Growth; Shares Move Higher

The Associated Press

Sep. 21, 2005 - The shipping company FedEx Corp. on Wednesday said first-quarter profit rose modestly, weighed down by an accounting charge, while revenue showed solid growth as daily package volume expanded. Its shares rose more than 7 percent.

FedEx earned $339 million, or $1.10 per share, for the three months ended Aug. 31, up from $330 million, or $1.08 per share, last year. Setting aside a one-time charge from changing its lease accounting, earnings would have been $1.25 per share.

The company's adjusted profit easily beat the average estimate of $1.17 per share from analysts surveyed by Thomson Financial.

FedEx shares jumped $5.86, or 7.6 percent, to $82.86 in morning trading on the New York Stock Exchange. Its shares have traded in a 52-week range of $76.81 to $101.87.

Quarterly revenue totaled $7.71 billion, up 10 percent from $6.98 billion a year earlier and beating analysts' consensus target of $7.58 billion. FedEx posted double-digit increases across its shipping segments, while revenue at its Kinko's document services unit rose just 6 percent.

FedEx's operating expenses climbed 11 percent to $7.12 billion, with fuel costs swelling 51 percent to $728 million from $483 million a year ago.

It expects second-quarter earnings of $1.30 to $1.45 per share. The company also raised its yearly guidance by 5 cents to a range of $5.25 to $5.50 per share.

Analysts currently see second-quarter income of $1.35 per share and full-year earnings of $5.28 per share. FedEx earned $1.21 per share in last year's second quarter and posted a profit of $4.78 per share for 2004.

Copyright 2005 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Copyright © 2005 ABC News Internet Ventures
Diesel 10 is offline  
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
SWAjet
Major
8
01-01-2020 12:25 PM
Sasquatch
Cargo
0
06-21-2006 08:45 PM
TonyC
Major
0
01-24-2006 05:21 PM
Sasquatch
Cargo
3
11-30-2005 07:42 PM
Freighter Captain
Cargo
3
05-16-2005 06:00 PM

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Thread Tools
Search this Thread
Your Privacy Choices