(Reuters) – FedEx Corp (FDX.N: Quote, Profile, Research, Stock Buzz) on Wednesday reported lower-than-expected results for the holiday quarter and gave a fiscal-year profit forecast below Wall Street estimates, the latest in a line of companies saying they were hurt by winter storms.
The world’s No. 2 package delivery company said the unusual weather had disrupted operations, reduced shipping volumes and increased costs, decreasing operating income by about $125 million in the third quarter ended on February 28.
CHICAGO (Reuters) – Sick of hearing Americans complain about the winter weather? Too bad. Because the corporate kvetching has only just begun.
While meteorologists say warmer temperatures finally are on the way, savvy investors know a cold front could still be looming when it comes to the profits of publicly traded U.S. companies.
(Reuters) – United Parcel Service Inc (UPS.N: Quote, Profile, Research, Stock Buzz) has vowed to avoid a repeat of last year’s Christmas holiday season when unexpectedly high volume and huge delays frustrated customers who wanted their packages delivered on time.
The No. 1 U.S. courier company is investing in new technology and expanded capacity so that the 2014 holiday season should go smoothly, Chief Financial Officer Kurt Kuehn said on Thursday.
(Reuters) – United Parcel Service Inc (UPS.N: Quote, Profile, Research, Stock Buzz) said on Friday its fourth-quarter earnings will fall well short of market estimates due to a surge in online shopping just before Christmas that caught the company off guard and led to late deliveries and higher costs.
Typically, a rise in online sales is good news for companies such as UPS and competitor FedEx Corp (FDX.N: Quote, Profile, Research, Stock Buzz) because it translates into brisker demand. But UPS said it had been overwhelmed by the volume of holiday packages, delaying the arrival of Christmas presents around the globe and spurring angry customers to take to social websites to complain.
(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.