FedEx today reported its net profit in the second quarter, which ended Nov. 30, was $438 million, down 12 percent from $497 million in the same quarter last year.
Quarterly earnings were $1.39 per diluted share, compared with $1.57 per share during the same period last year. Hurricane Sandy lowered the quarter’s results by $0.11 per diluted share because of reduced shipment volumes and incremental operating costs, the company said in a written statement.
Revenue in the company's second quarter, which ended Nov. 30, was $11.1 billion, rising 5 percent from $10.6 billion last year.
“We are hard at work on another record-setting holiday shipping season, driven by the continued growth of e-commerce,” said Frederick W. Smith, FedEx chairman, president and CEO.
FedEx projects its earnings will be $1.25 to $1.45 per diluted share in the third quarter.