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BRIEF-FedEx posts Q1 adjusted earnings of $2.90/share

Sept 20 FedEx Corp:

* FedEx Corp reports higher first quarter earnings

* Q1 adjusted earnings per share $2.90

* Q1 earnings per share $2.65

* Sees fy 2017 earnings per share $11.85 to $12.35 excluding items

* Q1 earnings per share view $2.81 -- Thomson Reuters I/B/E/S

* Says adjusted earnings for fiscal 2017 are projected to be $10.85 to $11.35 per diluted share

* In q1, incurred $28 million of intangible asset amortization expense for TNT express

* Qtrly FedEx ground segment revenue $4.29 billion versus $3.83 billion last year

* Q1 FedEx express segment revenue of $6.66 billion versus $6.59 billion last year

* Q1 revenue view $14.61 billion -- Thomson Reuters I/B/E/S

* Says unable to forecast fiscal 2017 year-end mark-to-market pension accounting adjustments

* FedEx Corp says unable to provide unadjusted earnings guidance for fiscal 2017

* During quarter, company incurred TNT express integration and outlook restructuring program costs of $68 million

* Qtrly GAAP revenue $14.7 billion versus $12.3 billion last year

* Says capital spending forecast for fiscal year, which includes TNT express, remains at $5.6 billion

* Q1 FedEx freight segment revenue of $1.66 billion versus $1.60 billion last year

* Fy2017 earnings per share view $11.97 -- Thomson Reuters I/B/E/S

* During quarter, company incurred TNT express integration and outlook restructuring program costs of $68 million

* Effective February 6, 2017, FedEx express and FedEx ground fuel surcharges will be adjusted on a weekly basis compared to current monthly adjustment Source text for Eikon: Further company coverage:

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