FDX Forecasts a Tough 2009 By Ben Thomas About this article: For Thomas's preview heading into the FedEx conference call, please click here. FedEx reported earnings that were in line with last week's preannouncement and suggested that 2009 will be a very tough year. As a result, the company is cutting more cost and reducing headcount. For the quarter just ended, the company posted EPS of $1.58 on total revenue of $9.5 billion. The company did reaffirm 2009 EPS of $3.50 to $4.75 but will not provide third-quarter (current quarter) guidance, which is apparently unpredictable, but the company did provide EPS guidance of 69 cents to $1.94 for the next two quarters. Express revenue was $6.1 billion, up 1% year over year but below original expectations. Margins in freight were down the most due to higher fixed cost and a complete drop-off in demand. The company believes that it is gaining market share in a declining market, however,... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200. More Stories From RealMoney Durable Goods Up Move Down the Tech Food Chain Jobless Claims Still High Bulls' Tenacity Is the Big Question Mark Should You Buy It? Pharmaceutical Product Development Bad News Trumps All Support for Banks Holds, For Now Bummer, Yields Are on the Rise Money on the Line Makes a Big Difference Structured Products: Unsafe at Any Price MORE STORIES FROM REALMONEY

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