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FedEx returns to original profit target ahead of holiday peak -Breaking

by Mike Robinson

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© Reuters. The FedEx sign can be seen at a FedEx office in Manhattan, New York City (USA), September 3, 2021. REUTERS/Andrew Kelly

LOS ANGELES (Reuters – U.S. shipping firm FedEx Corp (NYSE ) retweeted its initial fiscal 2022 forecast Thursday, despite the persistent labor woes that erode profits in advance of peak holiday season when many of the packages it receives doubles.

FedEx expects full year earnings (excluding items) of between $20.50 and $21.50 as per its original forecast. FedEx reduced its per-share range from $19.75 to 21.00 in September.

FedEx, a Memphis-based company, reported an adjusted net income (or $4.83 per share) of $1.3B for its fiscal second quarter ending Nov. 30. This was unchanged from the previous year. Due to continued interest in e-commerce home delivery, revenue increased by 14% to $23.5 million.

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