FedEx posts mixed Q1 results, tightens earnings forecast

FedEx (FDX) reported mixed fiscal first quarter results. Earnings of $4.55 beat estimates of $3.73. Revenue was $21.7 billion which is just shy of the $21.84 billion Wall Street was expecting. The logistics giant also raised the lower end of its full-year earnings forecast to a range of $17.00 to $18.50 per share. It had previously estimated $16.50 to $18.50. Argus Research Analyst John Eade says the results show the company is making some "incremental improvement, maybe not necessarily on the top line, but on the bottom line with management's focus on improving margins."