Fuel costs claim FedEx fourth-quarter profit as latest victim

MEMPHIS, Tenn. – FedEx Corp. has cut its fourth-quarter earnings expectations, blaming continuing increases in fuel costs.

The Memphis-based shipping company said it expects profits of $1.45 to $1.50 per share for the three months ended May 31, down from its previous prediction of $1.60 to $1.80 per share.

Analysts surveyed by Thomson Financial predicted quarterly earnings of $1.69, down from earlier expectations of $1.95.
Boston Herald