NEW YORK (Reuters) - FedEx Corp cut its earnings forecast for the current quarter, citing disruption from winter storms in the United States and Europe and higher fuel prices, sending shares lower in post-market trading.
FedEx said it now expected adjusted earnings of 70 cents to 90 cents a share in its fiscal third quarter, down from its earlier forecast of 95 cents to $1.15.
The storms and fuel prices will also affect full-year results, the company said. It will update its full-year outlook on March 16, when it announces third-quarter results.
Analysts were expecting the shipping company to earn $1.04 a share in the quarter and $5.11 in profit for the full year.
FedEx shares dropped 1.2 percent to $92.73 in extended trade from their close of $93.99 on the New York Stock Exchange. United Parcel Service
(Reporting by Nick Zieminski; Editing by Gary Hill)
