Economics
FedEx 2015 Profit Forecast Tops Estimates on Growth View
This article is for subscribers only.
FedEx Corp. forecast an annual profit that topped some analysts’ projections as it reaps the benefits of a 20-month push to reduce costs and a global economic recovery that’s spurring an increase in shipping.
Earnings for the current fiscal year ending in May will be $8.50 to $9 a share, the Memphis, Tennessee-based company said in a statement today. That compares with the average of $8.73 among 27 analysts surveyed by Bloomberg and the stock rose the most in more than two years.