FedEx says earnings to top estimates

FedEx says earnings to top estimates

FedEx Corp. on Thursday said quarterly earnings would top its previous estimates on strong demand in both its international and domestic shipping businesses.

The Memphis, Tenn., company said it expects net income of $1.36 per share for its fiscal fourth quarter ended May 31, up from 92 cents per share a year earlier.

Excluding restructuring costs, it will report $1.37 per share, it said, which exceeds its previous estimate of $1.20-1.30. On that same basis, Wall Street analysts have been looking for $1.25 per share.