FedEx Hits The Brakes on Q3 Profit Forecast

Feb. 16, 2011 - PRLog -- Global delivery and logistics group FedEx Corporation has hit the brakes on its quarterly profit forecast, warning that "severe" winter weather and soaring fuel prices will likely result in reduced earnings compared with its prior forecast.

FedEx said late Monday that it now anticipates adjusted earnings, excluding FedEx Freight combination costs, of $0.70 to $0.90 per diluted share for the third quarter ending February 28, compared with prior guidance of $0.95 to $1.15 per diluted share.

The global delivery giant said its updated earnings guidance for the quarter assumes no further weather-related impact, and that transportation fuel prices remain stable for the remainder of the quarter. FedEx said its winter storm related disruptions had been particularly bad in the U.S., and across parts of Europe.

FedEx scaled back its earnings forecast, as a new industry report, entitled "Freight Forwarding Brokerages & Agencies in the US - Industry Market Research Report" offers a detailed analysis of freight forwarding brokerages and agencies across the US, the world's largest economy.

The report incorporates major growth trends, statistics, and forecasts, and provides an overview of the industry's competitive environment, including market shares and the key issues facing freight forwarding brokerages and agencies.

Firms in the industry arrange the transportation of freight between shippers and carriers. These companies are usually known as freight forwarders, marine shipping agents or customs brokers, and they offer a combination of services that span transportation modes.

The report is broken down into insightful chapters covering industry performance, the competitive landscape, major companies and key statistics among other topics.

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