Fedex Down Early Despite Beaten Estimates (FDX)
Thursday, March 18, 2010 - 08:26
Written on Thu, 03/18/2010 - 8:26am
By Chip Brian

3/18/2010-Shares of FedEx (NYSE:FDX) are trading 2.7% lower to $87.40 pre-market Thursday after the company reported fiscal Q3 EPS of $0.76 beating consensus estimates of $0.72.
Revenues for the quarter rose 6.9% year-over-year to $8.7 billion, topping consensus estimates of $8.4 billion.
For the fiscal fourth quarter, FedEx expects EPS in the range of of $1.17 to$1.37, versus consensus estimates of $1.26. The company also raised its 2010 EPS forecast from $3.45-$3.75 to $3.60-$3.80. Consensus estimates are for 2010 EPS of $3.64.
"Outstanding execution of our business strategy and an improving global economy drove solid financial performance in the third quarter," said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer.

Keywords: FedEx earnings revenues guidance outlook

Ticker(s): FDX

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