Fedex: raises FY EPS target range

(CercleFinance.com) - On the publication of its first quarter results, FedEx upped its annual adjusted EPS target range to between 17.
20 dollars and 17.80 dollars, compared to between 17- 17.60 dollars previously.

Over the first three months of the current fiscal year, the logistics group earned adjusted net income that was up 37% at 933 million dollars, or 3.46 dollars per share, albeit 36 cents short of the consensus.

FedEx saw its adjusted operating margin slip 0.1 point to 7% for revenues that were up almost 12% at 17.1 billion dollars, a performance that it said was driven by a solid performance of its business plan and a healthy US economy.

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