FedEx Sees Modest Recovery

rookietrucker · Sep 11, 2009

FedEx Sees Modest Recovery

Improved profit forecast includes stronger outlook for international shipping

FedEx issued an upbeat new view of the economy Friday, saying its earnings could end up nearly double earlier projections in part because of gains in international express shipping.

The company said it is seeing a continued modest recovery in the global economy, although rates remain under pressure across all domestic and international businesses.

FedEx first quarter financial performance exceeded our guidance thanks to better-than-expected FedEx International Priority volume, strict cost management and solid execution of our strategy, said Alan B. Graf, Jr., FedEx Corp. chief financial officer.

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Gearjammin' Penguin · Sep 11, 2009

We aren't hurting near as bad as most.

Especially YRC.

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FedEx Sees Modest Recovery