FedEx 3Q Net Down, Sees Limited Earnings Growth - Smart Money
FedEx Corp. (FDX) on Thursday warned that financial results in the current fiscal fourth quarter will be hampered by high fuel prices and a weak economy, conditions that are expected to restrain earnings growth into fiscal 2009.
The latest results and bleak outlook send a negative signal about broader economic prospects, as FedEx is considered an international economic bellwether owing to its central role in global supply chains. For FedEx, much like other large U.S.-based multinational companies, weakness in domestic operations is offsetting the benefits of international expansion.
FedEx Corp. (FDX) on Thursday warned that financial results in the current fiscal fourth quarter will be hampered by high fuel prices and a weak economy, conditions that are expected to restrain earnings growth into fiscal 2009.
The latest results and bleak outlook send a negative signal about broader economic prospects, as FedEx is considered an international economic bellwether owing to its central role in global supply chains. For FedEx, much like other large U.S.-based multinational companies, weakness in domestic operations is offsetting the benefits of international expansion.
