FedEx cuts earnings outlook, citing storms (Reuters)
NEW YORK (Reuters) – FedEx Corp (FDX.N) revilement its earnings prognosticate for the underway quarter, citing flutter from winter storms in the United States and aggregation and higher render prices, sending shares modify in post-market trading.
FedEx said it today expected adjusted earnings of 70 cents to 90 cents a deal in its business third quarter, down from its earlier prognosticate of 95 cents to $1.15.
The storms and render prices module also change full-year results, the consort said. It module update its full-year looking on March 16, when it announces third-quarter results.
Analysts were expecting the shipping consort to acquire $1.04 a deal in the lodge and $5.11 in profit for the flooded year.
FedEx shares dropped 1.2 proportionality to $92.73 in long trade from their near of $93.99 on the New York Stock Exchange. United Parcel Service (UPS.N) shares lapse 0.9 proportionality to $74.10.
(Reporting by Nick Zieminski; Editing by metropolis Hill)
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