Summary Box: FedEx 3Q earnings fall on snow, fuel

AP News
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Posted: Mar 17, 2011 9:31 AM

STRONG HEADWINDS: FedEx Corp. said that third-quarter earnings fell 3 percent because of rising fuel prices and harsh winter weather. But revenue rose 11 percent on higher prices and package weight.

GAINING ALTITUDE: The Memphis, Tenn. company said higher prices in the fourth quarter will likely mean that it will beat most Wall Street expectations and grow earnings significantly from a year ago.

UP IN THE AIR: The world's second-largest package delivery company warned that earnings for this quarter and the entire year may be trimmed by ongoing turmoil in the Middle East and fuel costs. The impact of the earthquake and tsunami in Japan is not yet known.