FedEx Misses Earnings Estimates, Downgrades Full Year Outlook

FedEx reported fiscal first quarter earnings this morning that came below Wall Street estimates. FedEx reported earnings per share of $2.42 on revenue of $12.3 billion.  Analysts were looking for first quarter earnings to come in at $2.45-$2.46 earnings per share on revenue of $12.3 billion.  The quarter also led to management revising full fiscal year earnings downward.  Prior to today, FedEx estimated full year earnings per share would come between $10.60 and $11.10.  Management now says they expect full year earnings per share between $10.40 and $10.90.  Shares of FedEx are down -2.60% in early premarket trading to $150.00.

FedEx announces increase in shipping rates

In addition to a dismal earnings...