FedEx Reports Third Quarter Earnings Mar 21, 2007

FedEx reported third quarter earnings of $1.35 per share, down from $1.38 per share last year. Revenue increased 7% to $8.59 billion due to growth at FedEx Ground and international express, but operating income fell 10% to $641 million due to a slowing economy, lower fuel surcharges, and winter storms. For the full year, FedEx expects earnings between $6.45 to $6.60 per share, up 12-15% from last year excluding one-time items.