Monday, July 26, 2010

FedEx increases earnings outlook

MEMPHIS, Tenn.--(BUSINESS WIRE)--FedEx Corporation (NYSE: FDX - News) today announced that it expects earnings to be in the range of $1.05 to $1.25 per diluted share for the first quarter ending August 31, up 81% to 116% from $0.58 per diluted share a year ago. The company’s previous guidance for the quarter was $0.85 to $1.05 per diluted share.

Of particular benefit to our earnings is the continued strong demand for our higher-margin FedEx International Priority® (IP) package and freight services, with IP package volumes expected to grow more than 20% again this quarter. Customers are favorably responding to our superior service offerings, the capabilities of our unparalleled global network and the best-in-market cut-off times we now offer from numerous points in Asia.”

FedEx is also restoring the 401K match, and Kinko's is the go between place for those unemployed who don't yet have an office.

UPS upgrades outlook last week, and now this week it's FedEx.