FedEx Corp cut its earnings forecast for the current quarter, citing disruption from winter storms in the United States and Europe and higher fuel prices, sending shares lower in post-market trading.
FedEx said it now expected adjusted quarterly earnings of 70 cents to 90 cents a share in its fiscal third quarter, down from its earlier forecast of 95 cents to $1.15. Analysts were expecting the shipping company to earn $1.04 a share in the quarter.
FedEx shares fell 0.9 percent in post-market trading from their close of $93.99 on the New York Stock Exchange, while shares of rival United Parcel Service fell 1.1 percent.
(Reporting by Nick Zieminski; Editing by Gary Hill)