MEMPHIS (dpa-AFX) - Package delivery giant FedEx Corp. (FDX) Tuesday said it lowered its first-quarter earnings outlook, as weakness in the global economy constrained revenue growth at the company express more than expected in the earlier guidance.
The company lowered its first-quarter earnings guidance to a range of $1.37 -$1.43 per share, from the prior estimate of $1.45 - $1.60 per share. Analysts polled by Thomson Reuters expect the company to report earnings of $1.71 per share for the first-quarter. Analysts' estimates typically exclude special items.
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