FedEx Corp., Memphis, Tenn., said it expects to report higher earnings of $1 to $1.10 per diluted share for the first quarter ending Aug. 31 and $4.40 to $4.60 per diluted share for fiscal 2005.
Previous guidance was $0.90 to $1 per diluted share for the first quarter and $4.20 to $4.40 per diluted share for fiscal 2005.
"We are seeing strong demand across our international express, ground and less-than-truckload services," said Alan B. Graf, Jr., executive vice president and chief financial officer. "Customers are increasingly looking to FedEx to manage a broader range of their transportation and supply chain needs. We have strong momentum in our businesses and believe the economy continues on a sustainable expansion path."
"While there are potential risks on the horizon, such as prolonged high oil costs that could impact the worldwide economy, we believe we will continue to see strong demand which will result in higher earnings," said Graf. "To meet this increased demand for our services, we will increase our capital investments to between $2.0 and $2.1 billion in fiscal 2005 to expand the capacity of our international express, ground and freight networks."
Additional information will be available on Sept. 22, when the company releases a full earnings report.
Previous guidance was $0.90 to $1 per diluted share for the first quarter and $4.20 to $4.40 per diluted share for fiscal 2005.
"We are seeing strong demand across our international express, ground and less-than-truckload services," said Alan B. Graf, Jr., executive vice president and chief financial officer. "Customers are increasingly looking to FedEx to manage a broader range of their transportation and supply chain needs. We have strong momentum in our businesses and believe the economy continues on a sustainable expansion path."
"While there are potential risks on the horizon, such as prolonged high oil costs that could impact the worldwide economy, we believe we will continue to see strong demand which will result in higher earnings," said Graf. "To meet this increased demand for our services, we will increase our capital investments to between $2.0 and $2.1 billion in fiscal 2005 to expand the capacity of our international express, ground and freight networks."
Additional information will be available on Sept. 22, when the company releases a full earnings report.
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