FedEx Forecasts Quarterly Profit Smaller Than Estimates - Bloomberg
Profit excluding some items for the three months through August will be $1.45 to $1.60 a share, the Memphis, Tennessee- based company said today in a statement. That compares with an average estimate of $1.70 from 16 analysts surveyed by Bloomberg.
FedEx, an economic bellwether because it carries everything from mobile devices to pharmaceuticals, predicts U.S. economic growth of 2.2 percent for the fiscal year through May 31, said Jess Bunn, a company spokesman. That’s down from a forecast of 2.3 percent in December, he said.