FedEx Soars After Boosting Profit Outlook on Network Overhaul

FedEx Corp. raised its full-year profit forecast, sending the courier’s shares up the most in almost a year and signaling the plan to restructure its delivery network is gaining traction despite economic volatility.

Adjusted earnings will be $19.30 to $20.10 a share for the fiscal year, up from no more than $19 under its prior guidance, the company said late Thursday in a statement. Even the bottom of the new range tops the $18.71 average analyst estimate compiled by Bloomberg.

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