FedEx Falls After Profit Forecast Trails Estimates - Bloomberg
FedEx Corp. fell in New York trading after the second-largest U.S. package-shipping company forecast a quarterly profit that trailed analysts’ estimates amid an “extremely difficult” economy.
FedEx faces the “most difficult economic conditions in our company’s history,” said Chief Executive Officer Fred S, who founded the company 36 years ago. Still, he told analysts on a conference call that “the worst of the recession is likely behind us.”
FedEx Corp. fell in New York trading after the second-largest U.S. package-shipping company forecast a quarterly profit that trailed analysts’ estimates amid an “extremely difficult” economy.
FedEx faces the “most difficult economic conditions in our company’s history,” said Chief Executive Officer Fred S, who founded the company 36 years ago. Still, he told analysts on a conference call that “the worst of the recession is likely behind us.”