FedEx boosts forecast for fiscal 2011

By Reuters
Posted July 26, 2010 at 8:19 a.m.

FedEx Corp. raised its outlook for the year and the quarter Monday, citing better-than-anticipated volume growth in its Express and Ground business.

Memphis, Tenn.-based FedEx said it now sees its fiscal 2011 earnings in the range of $4.60 to $5.20 per share, up from its previous forecast of $4.40 to $5 per share.

For the first quarter ending Aug. 31, FedEx said it sees earnings of $1.05 per share to $1.25 per share, up from 85 cents per share to $1.05 per share previously.

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