FedEx Says Profit May Beat Forecasts
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FedEx Corp. said profit this quarter and next may exceed forecasts because it’s shipping more packages by ground and carrying more mail for the Postal Service.
The largest overnight delivery company said shipments at FedEx Ground may increase 20% in the quarter ending Feb. 28 as revenue per package rises 5%. The unit also is taking some package-shipment business from the Postal Service and United Parcel Service Inc. as it offers new products and as more customers switch from air delivery to trucks, analysts said.
The company’s shares rose $1.73 to $55.13 on the NYSE.
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