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Earnings for trucking and package delivery company FedEx Corp. moved up modestly to $715 million, or $2.65 per share, in its fiscal quarter ending Aug 31 that included the cost of integrating another carrier.
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FedEx Corp. cut much, but not all, of its second quarter losses compared to a year earlier, while a preview of Werner Enterprises Inc. second quarter earnings sent heartburn throughout trucking and Wall Street amid concerns about second quarter trucking profits.
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Trucking and parcel delivery company FedEx Corp. on Wednesday reported lower quarterly profits, but adjusted earnings were better than expectations.
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It's looking like a good Christmas for Navistar and FedEx. The truck and engine maker managed to cut back on its losses in its most recent fiscal quarter and likely no longer will have an SEC investigation hanging over its head. Meanwhile, FedEx saw better earnings due to record holiday business.
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FedEx Corp.'s profits in its most recent fiscal quarter increased from a year earlier, but the company lowered expectations for the full year.
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FedEx Corp. on Wednesday reported a 4% increase in revenue while profit jumped more than 50% in its most recent fiscal quarter.
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FedEx acquired third party logistics company Genco, expanding the company’s portfolio to include reverse logistics which deals with the processing of returns for retailers.
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FedEx has reported its fiscal fourth quarter results showing net income increased to $730 million, or $2.46 per share, compared with $679 million, or $2.13 per share, from the same time a year ago.
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The hike by three percentage points will be effective June 2, while FedEx Ground will begin applying dimensional weight pricing to all shipments, effective January 1, 2015.
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