Tag: FedEx

PinPoint to develop new Houston FedEx freight facility

Posted by | Jun 22, 2007 | |

Developer PinPoint Commercial has been selected to develop and lease a 243-door, 153,853-square-foot, cross dock freight facility in Northwest Houston to FedEx Freight East Inc. Terms of the contract were not disclosed.

The terminal will be located at Houston-based PinPoint Commercial’s 115-acre Satsuma Station Industrial Park near the intersection of Highway 290 and FM 1960, where it will occupy more than one-third of the total acreage.

According to PinPoint Commercial, the design for the terminal already has been expanded by about one-third from the original plan because of the estimated growth in freight needs of the Houston area and the need for a presence in Northwest Houston.

It is believed it will be the largest hub in the FedEx Freight network. The project is expected to open by the second quarter of 2008.

Read More

FedEx Corp. fourth quarter net income increases 7 percent

Posted by | Jun 20, 2007 | |

FedEx Corporation today reported earnings of USD 1.96 per diluted share for the fourth quarter ended May 31, compared to USD 1.82 per diluted share a year ago. The quarter’s results include a gain from a settlement with Airbus related to the A380 order cancellation, which had a net benefit to earnings of approximately USD 0.06 per diluted share.

“FedEx delivered solid financial results in fiscal 2007 even though we were restrained by a slowing U.S. economy,” said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer. “The weakened industrial sector is currently limiting demand for transportation services, but we expect the U.S. economy to begin to show modest year-over-year improvement in the late summer to early fall timeframe. We remain optimistic about prospects for global economic growth, and will continue to invest in projects critical to achieving strong long-term financial performance.”

Read More

UAE FedEx customers vote for ‘Courier Of The Year’

Posted by | Jun 19, 2007 | |

FedEx Express, the world’s largest express transportation company, has announced the winners of the Second Annual Courier of the Year Competition for Dubai and Abu Dhabi.

The FedEx Courier of the Year Award is a unique recognition program that enables those in the best position to evaluate customer service and to select the winner. Customers voted online for their respective FedEx courier, based on their politeness, presentation and helpfulness.

For Abu Dhabi, the Courier of the Year is Thomas Leo and for Dubai, Eloi Oandasan.

In addition to the prestige of winning the Courier of the Year Award, both couriers received a cash prize and an additional week’s holiday.

Read More

Google gives discount to FedEx users

Posted by | Jun 19, 2007 | |

Google Inc., owner of the most- popular Internet search engine, is offering discounts to customers of its online payment service who ship items with FedEx Corp., stepping up competition with EBay Inc.

Merchants using Google Checkout can save as much as 21 percent on express shipments, which are delivered in one to three business days, Mountain View, California-based Google said today on its Web log. Smaller discounts are available for international, ground and home deliveries.

“With the addition of significant shipping-via-FedEx savings, Google now offers merchants an even more compelling reason to adopt Google Checkout,” Piper Jaffray & Co. analyst Gene Munster said in a report. He rates the shares “outperform.”

The accord follows a similar agreement last week between EBay, which has a rival service to Google’s, and United Parcel Service Inc. EBay, the world’s largest online auctioneer, decided last year it wouldn’t offer Checkout as a payment option on its sites. Last week it also reduced advertising spending with Google.

Google unveiled Checkout a year ago as part of a plan to expand beyond its Internet-search business. The company added the service in the U.K. in April.

Read More

Earnings Preview: FedEx Corp

Posted by | Jun 18, 2007 | |

The company is predicting earnings per share for the fourth quarter between $1.93 and $2.08, and full-year earnings of $6.45 to $6.60 per share. Full-year earnings per share include the impact of costs associated with a pilot labor contract. Excluding those charges, the company expects to see earnings of $6.70 to $6.85 per share.

Analysts expect a quarterly profit of $1.98 per share, according to a poll by Thomson Financial, and full-year earnings per share of $6.76.

In a note to investors, Bear Stearns analyst Edward Wolfe on Monday said he expects FedEx to report fourth-quarter results below Wall Street’s consensus, due to the weak freight economy and increasing fuel costs. He reduced his own earnings per share estimate to $1.85 from $1.98, and expects full-year earnings per share at $6.62.

Wolfe said the company’s international small package business has slowed in the first half of the fiscal year after a slowdown in the trucking industry and reduced rail volumes.

Comparatively, United Parcel Service Inc., the company’s chief competitor, in May reported a 13.5 percent decrease in first-quarter profit. Officials with UPS also cited trouble in their small package business during the year, but the world’s largest shipping carrier said in March it does expect earnings per share growth of 6 percent to 10 percent for 2007.

FedEx shares fell nearly 4 percent during the quarter. The stock hit its 52-week high on Feb. 26, and has slowly declined since to close Monday at $109.92.

Read More

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

What's the future of the postal USO?

Thank you for voting
You have already voted on this poll!
Please select an option!



View ResultsHide Results

Post & Parcel Magazine


Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.

Subscribe to the Magazine

 

Pin It on Pinterest