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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • FedEx Earnings Miss Expectations 0 comments
    Mar 19, 2014 11:03 AM | about stocks: FDX

    Originally published at

    FedEx Corporation (NYSE:FDX) announced its financial results for the third quarter of fiscal year 2014, posting earnings that missed analyst expectations. The Memphis-based company reported a 3% increase in revenue from $11.0B a year ago to $11.3B while operating income improved 9% from $589M to $641M. Net income increased 5% from $361M last year to $378M while earnings per share of $1.23 missed analyst expectations at $1.45. CEO Frederick Smith commented that the severe winter weather adversely affected the company's performance but that on days with more typical weather conditions for the season the company's volumes were high. The company lowered its previously stated earnings per share range of $6.73 to $7.10 to now between $6.55 and $6.80 per share. CFO Alan Graff attributed the lower earnings guidance to severe winter weather.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: FDX
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