FedEx earnings up 37% in 1QFY2015, reaffirms FY2015 forecast

FedEx reported (17-Sep-2014) earnings per diluted share increased 37% year-on-year to USD2.10 for 1QFY2015. Revenue increased 6% to USD11.7 billion, operating income increased 24% to USD987 million and net income increased 24% to USD606 million. FedEx chairman, president and CEO Frederick W Smith reported strong performance at FedEx Ground, solid volume and revenue increases at FedEx Freight and healthy growth in US domestic volumes at FedEx Express. Operating income increased primarily due to higher volumes and increased yields. Aircraft maintenance expenses increased due to the timing of engine maintenance events. The company reaffirmed its FY2015 earnings forecast of USD8.50 to USD9 per diluted share, assuming no net fuel impact and continued moderate economic growth. [more - original PR]