Economics
FedEx 2012 Profit May Top Estimates as Economy Strengthens
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FedEx Corp. predicted a fiscal 2012 profit that may exceed analysts’ estimates as a strengthening economic recovery buoys demand for international air-cargo shipments and jet-fuel costs ease.
The earnings forecast of $6.35 to $6.85 a share compares with an average of $6.54 from 26 analysts surveyed by Bloomberg. FedEx, operator of the world’s biggest cargo airline, and United Parcel Service Inc. deliver goods ranging from financial documents to pharmaceuticals, making them economic bellwethers.