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.
Forward Air Corp. has become the latest trucking operation to lower expectations ahead of releasing its next earnings report.
FedEx Freight has purchased more than 100 compressed natural gas powered tractors and has installed a CNG fueling station to serve its CNG fleet in Oklahoma City Service Center.
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.
Trucking and parcel delivery company FedEx Corp. on Wednesday reported lower quarterly profits, but adjusted earnings were better than expectations.
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.
FedEx Corp.'s profits in its most recent fiscal quarter increased from a year earlier, but the company lowered expectations for the full year.
FedEx Corp. on Wednesday reported a 4% increase in revenue while profit jumped more than 50% in its most recent fiscal quarter.
A day after announcing truck drivers at one FedEx Freight facility voted against representation by the Teamsters union, the company said Thursday another did the same.
The Teamsters Union has lost another vote in its recent efforts to organize more drivers at FedEx Freight.
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