NEW YORK (AP) — FedEx says its fiscal third quarter earnings fell 3 percent because of rising fuel prices and harsh winter weather.
FedEx Corp. is forecasting full-year earnings within Wall Street's expectations, but on Thursday warned that earnings could be trimmed by ongoing Middle East turmoil and fuel costs. The impact of the earthquake and tsunami in Japan is not yet known.
The company earned $231 million or 73 cents per share for the quarter that ended in February, compared with $239 million, or 76 cents per share a year earlier.
Revenue rose 11 percent to $9.66 billion, mostly due to better prices and efficiency.
For the fiscal year ending in May, the Memphis, Tennessee, company forecasts adjusted earnings of $4.83 to $5. Analysts currently expect an annual profit of $4.89 per share.