(Reuters) – FedEx Corp (FDX.N: Quote, Profile, Research, Stock Buzz) posted a 14 percent rise in quarterly profit on Wednesday on stronger margins and cost cuts, but results missed Wall Street estimates, which overshadowed the company’s confident forecast for the holiday shopping season.
Wall Street analysts expressed disappointment at the slight dip in revenue at the express delivery business, FedEx’s biggest unit. They also noted softening volume growth for ground deliveries.
Dec 18 (Reuters) – FedEx Corp raised its full-year
earnings forecast on Wednesday but its quarterly results missed
Wall Street estimates as revenue declined at express delivery,
its biggest unit, and volume growth softened for ground
It sees full-year earnings per share growth between 8
percent and 14 percent above last year. Previously its outlook
was for growth between 7 percent and 13 percent.
CHICAGO, Dec 13 (Reuters) – Don’t believe the gassy hype.
The United States may be floating on an ocean of cheap,
domestically sourced natural gas. But its transportation sector
is more reliant on diesel fuel – and is using less natural gas -
than it was in the 1960s and 1970s. And industry executives say
regulatory and logistical challenges and uncertainties make it
unlikely the picture will change anytime soon.
That may come as a surprise to many investors. Over the past
decade, energy companies using hydraulic fracturing and
horizontal drilling have unlocked huge gas deposits trapped in
rock thousands of feet underneath the United States.
(Reuters) – Southwest Airlines and United Continental Holdings made more money in the third quarter as higher airfares bolstered revenue, capping a strong week of earnings for major U.S. airlines that bodes well for the current period.
United missed estimates on Thursday as it grappled with revenue management shortfalls and competitive pressure, while Southwest’s profit was as analysts expected.
CHICAGO, Oct 24 (Reuters) – United Continental Holdings Inc
, which owns United Airlines, missed quarterly profit
estimates on Thursday as the airline still struggled to
consolidate itself nearly three years after a merger that
created the world’s biggest airline.
Analysts said the carrier is lagging the industry on
important performance points. Despite a handful of airlines yet
to report, it appears that United’s margin gap to the industry
widened by 420 basis points from last year, J.P. Morgan analyst
Jamie Baker said in a note to clients.
CHICAGO (Reuters) – Flexjet, the corporate jet leasing company, plans to add up to 50 long-haul aircraft to its fleet in a potential $3.2 billion deal that could mark its first use of Gulfstream aircraft, as a change in Flexjet’s ownership may wean it from Bombardier jets.
Earlier this month, Bombardier Inc BBdb.TO agreed to sell its Flexjet unit, a move that will give Flexjet more flexibility in the types of aircraft it buys.
CHICAGO, Sept 17 (Reuters) – A company backed by Texas oil
man T. Boone Pickens that provides natural gas as transportation
fuel is partnering with Canada’s Ferus Natural Gas Fuels, GE
Ventures and GE Energy Financial Services to jointly deliver
liquefied natural gas in the United States.
The consortium, called Eagle LNG Partners, will develop
regional LNG projects to meet industry demand for long-haul
trucking, rail, mining, marine, and oil and gas services, a
spokeswoman for Ferus Natural Gas Fuels told Reuters.
WASHINGTON (Reuters) – United Airlines plans to return cash to shareholders after paying down debt next year, and the airline is on track to hit its target of 10 percent return on capital, the chief financial officer said on Thursday.
United Continental Holdings Inc (UAL.N: Quote, Profile, Research, Stock Buzz) plans to pay off $800 million in debt next year, which will strengthen the balance sheet enough to allow it to return cash to shareholders, CFO John Rainey said at the Reuters Aerospace and Defense Summit.
WASHINGTON (Reuters) – Having enjoyed a relatively strong summer travel season, U.S. hotels and airlines face a potential hit this autumn as the nation’s defense industry and government departments rein in travel spending.
Officials at the Pentagon and top U.S. defense companies told the Reuters Aerospace and Defense Summit this week that they are cutting travel by double-digit percentages to deal with the latest round of automatic spending cuts caused by sequestration. The reductions could create a replay of cuts in the spring that reduced airline revenue when sequestration first hit U.S. government spending.
Washington (Reuters) – JetBlue Airways Corp (JBLU.O: Quote, Profile, Research, Stock Buzz), mentioned as a possible takeover candidate if the merger of US Airways Group Inc (LCC.N: Quote, Profile, Research, Stock Buzz) and American Airlines (AAMRQ.PK: Quote, Profile, Research, Stock Buzz) fails to be completed, is not interested in a merger or acquisition, its chief executive said on Tuesday.
Speaking at the Reuters Aerospace and Defense Summit, CEO Dave Barger said JetBlue had an interest in assets such as airport gates that become available as a result of mergers. “But mergers and acquisitions, just not of interest to JetBlue. Independence into the future is our plan,” Barger said.