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Pensions hit FedEx, may weigh on 2017 results

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Published Wed, Jun 22, 2016 · 09:50 PM

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Chicago

PACKAGE delivery company FedEx Corp on Tuesday reported a quarterly loss due to mark-to-market pension adjustments and expenses related to acquiring Dutch package delivery company TNT, and said it did not know how those two factors would affect its earnings for the coming fiscal year. FedEx shares fell more than one per cent after the news.

Like main rival United Parcel Service Inc, FedEx is considered a bellwether of US economic activity. Excluding one-off charges, FedEx reported a profit that beat market expectations.

FedEx

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