FedEx Corp profits double in 3QFY2012

FedEx Corp revenue up 9% - financial highlights for three months ended 29-Feb-2012:

• Revenue: USD10,560 million, +9% year-on-year;
  • FedEx Express: USD6540 million, +8%;
  • FedEx Ground: USD2480 million, +14%;
  • FedEx Freight: USD1230 million, +10%;
• Operating profit (loss): USD813 million, +107%;
  • FedEx Express: USD349 million, +96%;
  • FedEx Ground: USD465 million, +43%;
  • FedEx Freight: (USD1 million), compared to a loss of USD110 million in p-c-p;
• Net profit: USD521 million, +126%;
• Total assets: USD28,752 million, +5.0% when compared to period ended 31-May-2011;
• Cash and cash equivalents: USD2040 million, -12.4% when compared to period ended 31-May-2011;
• Total liabilities: USD12,183 million, +0.1% when compared to period ended 31-May-2011. [more - original PR]

FedEx Corp: "FedEx projects earnings to be USD1.75 to USD2.00 per diluted share in the fourth quarter and an adjusted USD6.35 to USD6.60 per diluted share for fiscal 2012. This guidance assumes the current market outlook for fuel prices and moderate growth in the global economy. Including the FedEx Express legal reserve reversal, earnings are expected to be USD6.43 to USD6.68 per diluted share for fiscal 2012. The capital spending forecast for fiscal 2012 remains USD4.2 billion," Company statement. Source: FedEx, 22-Mar-2012.