News Column

FedEx Profits Down 12 Percent in Second Quarter

Dec 19, 2012

Ann Belser


Profits at the global shipping company FedEx were down 12 percent in the company's second quarter, with a net income of $438 million, down from $497 million in the same quarter last year according to an earnings report issued this morning.

Earnings for the company were $1.39 per diluted share, down from last year's $1.57, an 11 percent decline.

The company blamed Hurricane Sandy for the decrease.

FedEx Ground, the unit based in Moon, experienced a 4 percent growth in revenues with $1.38 billion in revenues for the quarter over last year's $1.33 billion.

Source: (c)2012 the Pittsburgh Post-Gazette. Distributed by MCT Information Services.

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