On Thursday, FedEx Corporation (NYSE:FDX)’s shares inclined 0.51% to $144.71.
FedEx Corp. (FDX) stated earnings of $2.42 per diluted share for the first quarter ended August 31, contrast to adjusted earnings of $2.12 per diluted share a year ago. Without adjustment, FedEx earned $2.26 per diluted share last year.
First Quarter Results
Operating results rose contrast to last year due to sharply raised operating income at FedEx Express, the benefit from one additional operating day at each of the company’s transportation segments and the continued positive impacts from the company’s profit improvement program. These benefits were partially offset by higher incentive compensation accruals, higher self-insurance reserves and operating costs at FedEx Ground, and lower-than-anticipated volume at FedEx Freight. Fuel had a slightly negative net impact to operating income. Costs related to the pending acquisition of TNT Express were immaterial during the quarter.
Outlook
FedEx now projects adjusted earnings for fiscal 2016 to be $10.40 to $10.90 per diluted share before year-end mark-to-market pension accounting adjustments, aided by benefits from the profit improvement program. The outlook assumes moderate economic growth and does not comprise any operating results or costs related to TNT Express. The capital spending forecast for the fiscal year remains $4.6 billion.
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company’s FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; international trade advisory services, such as assistance with the customs-trade partnership against terrorism program; and customs clearance services, in addition to global trade data, an information tool that allows customers to track and manage imports.
VF Corp (NYSE:VFC)’s shares gained 0.81% to $68.76.
Timberland, a brand of VF Corporation (VFC), Global outdoor lifestyle brand Timberland marked the planting of a total of two million trees in the Horqin Desert, a noteworthy milestone in its ongoing program to tackle desertification in Inner Mongolia. This achievement is a key part of the company’s CSR efforts in Asia, and further demonstrates its continued commitment to protect, create and restore the outdoors and support the communities in which it operates.
In 2001, inspired by the company’s commitment to environmental sustainability, one employee suggested that Timberland play a role in reforesting the Horqin Desert to assist tackle the root cause of the sandstorms in her home country of Japan. As a result, Timberland formed a partnership with Green Network, a Japan-based non-profit organization. Fourteen years later, Timberland has contributed more than JPY 120 million (about CNY 6 million at current exchange rates) and 291 days of employee time to support the reforestation project.
Northern China’s Horqin Desert, situated in Inner Mongolia, was grassland until as recently as the 1960s. But a combination of over-grazing of the land and climate change led to deforestation of the area, resulting in the creation of a desert the size of Switzerland (42,300 square kilometers).
V.F. Corporation designs, manufactures, markets, and distributes branded lifestyle apparel, footwear, and accessories in the United States and Europe. The company offers outdoor apparel, footwear and equipment, youth culture/action sports-inspired footwear, handbags, luggage, backpacks, totes, accessories, merino wool socks, women’s activewear, and travel accessories under the The North Face, Vans, Timberland, Kipling, Napapijri, Jansport, Reef, Smartwool, Eastpak, lucy, and Eagle Creek brands.
At the end of Thursday’s trade, Wabash National Corporation (NYSE:WNC)‘s shares dipped -3.02% to $10.27.
Wabash National Corporation (WNC) was named one of the “50 Best U.S. Manufacturers” by IndustryWeek in its July/August 2015 issue. This is the third time Wabash National has been honored as an “IW 50 Best,” having also appeared on the list in 2006 and 2013.
“This national recognition reflects the dedication and talent of our 6,000 associates worldwide,” said Dick Giromini, president and chief executive officer. “Wabash National has changed significantly in the past three years as we have transformed from primarily a van trailer producer to a diversified industrial manufacturer. With a rich 30-year history as an industry leader, our core values and commitment to customers have remained the same, and that has made all the difference.”
The IndustryWeek 50 Best U.S. Manufacturers is the magazine’s annual ranking of America’s top-performing public manufacturers. To select the top 50 manufacturing companies, IndustryWeek evaluated members of its “U.S. 500,” a list of the largest U.S. public manufacturers, based on financial performance in six key areas from 2012 to 2014: inventory turns, profit margin, asset turns, return on assets, return on equity and revenue growth. Performance for the most recent year was weighted more heavily in the analysis.
Wabash National Corporation designs, manufactures, and markets truck and tank trailers, intermodal equipment, and transportation related products in North America. Its Commercial Trailer Products segment provides dry van trailers under the DuraPlate, DuraPlateHD, DuraPlate, XD-35, and FreightPro trademarks; platform trailers under the Transcraft, Eagle, and Benson trademarks; refrigerated trailers under the ArcticLite trademark; and specialty products, such as converter dollies, big tire haulers, Roadrailer trailers, rail products, aftermarket component products, parts, and others, in addition to used trailers and laminated hard wood oak products. The company’s Diversified Products segment offers transportation products, counting stainless steel and aluminum liquid transport tank trailers and other liquid transport solutions for the dairy, food and beverage, chemical and environmental, and petroleum industries; aircraft refuelers and hydrant dispensers for in-to-plane fueling companies, airlines, freight distribution companies, and fuel marketers; military grade refueling and water tankers; truck mounted tanks for fuel delivery; and vacuum tankers.
Iron Mountain Inc (NYSE:IRM), ended its Thursday’s trading session with 0.45% gain, and closed at $31.16.
Iron Mountain Incorporated (IRM), the storage and information administration services company, will report its third quarter 2015 financial results before market hours on Friday October 30, 2015. The Company will also host a conference call to talk about results on the same day.
Iron Mountain Incorporated, a real estate investment trust, provides storage and information administration services in North America, Europe, Latin America, and the Asia Pacific. It operates through North American Records and Information Administration Business, North American Data Administration Business, Western European Business, Other International Business, and Corporate and Other Business.
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