FedEx Cuts 2014 Profit Guidance as Winter Hurts Bottom Line

FedEx is the latest company to suffer from the unusually severe winter season. The world's second-largest delivery company cut its 2014 profit guidance after storms impacted third-quarter earnings. FedEx sees net income between $6.55 and $6.80 a share over fiscal 2014, less than analysts' estimates of $6.90. Over its most recent quarter, operating income took an estimated $125-million hit after inclement weather grounded flights, impeded road travel and reduced shipping volumes.