Fedex: cuts full-year EPS target range

(CercleFinance.com) - On publishing its quarterly results, on Tuesday night, FedEx cut its annual adjusted EPS target range to between 15.
50 dollars to 16.60 dollars, compared to 17.20 dollars to 17.80 dollars previously. .

Justifying this reduction mainly due to weakness in Europe, the logistics group announced cost-cutting measures, including reductions in FedEx Express' international network capacity, as well as discretionary spending.

In its second accounting quarter, the group posted adjusted net income that is up 25% at 1.08 billion dollars, or 4.03 dollars per share, with EPS that is eight cents above the consensus for revenue growth of 9% to 17.8 billion dollars.

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