Fedex Posts Quarterly Loss Due To Pension Charges

Source: thewillnigeria.com
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Package delivery firm FedEx Corp (FDX.N) on Wednesday reported a quarterly net loss due to a $2.2 non-cash pretax charge related to a move to mark-to-market accounting for employee pensions.

The Memphis-based company reported a fiscal fourth-quarter loss of $895 million or $3.16 per share, compared with $753 million or $2.54 per share a year earlier.

The company reported adjusted earnings of $753 million or $2.66 per share. Analysts had expected earnings per share of $2.68 for the quarter.

REUTERS