Fedex (FDX) reported earnings on Wednesday that fell short of analyst estimates. The parcel delivery service felt the headwinds of the strong dollar and falling fuel surcharges. The company posted earnings of $2.66 per share, missing estimates of $2.68 per share. Revenue was up from last year’s numbers but came in lower than forecast at $12.1 billion. Overall, Fedex posted a net loss of $895 million for the fourth quarter. The company was hit by a number of special charges involving company pension costs and an on going lawsuit regarding the classification of delivery drivers as independent contractors. Fedex recently announced a deal with Dutch delivery company TNT Express worth around $4.8 billion back in April. The partnership will give Fedex a more extensive European road network. The delivery giant also raised the retirement age for board member from 72 to 75.
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