CNN —The threat of a strike at one competitor and the bankruptcy of another proved beneficial for FedEx this summer. Overall, adjusted earnings for FedEx’s fiscal first quarter were $4.55 a share, up from $3.44 a share this time last year. “As a result, we are well positioned as we prepare for the peak season.”The shipping company said its businesses saw a boost from UPS’s negotiations with the Teamsters Union and Yellow Corp.’s implosion during the quarter. For the company’s Ground division, which is its low-cost shipping service, the company reported that operating income grew 59%. FedEx gained customers from Yellow’s bankruptcyBut UPS’s contract negotiations were not the only external factor that helped boost FedEx this quarter.

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Persons: Brie Carere, Raj Subramaniam, Carere, ”, ” Carere Organizations: CNN, FedEx, Teamsters Union and Yellow Corp, UPS, FedEx FedEx, Express, Teamsters Union, Yellow Corp, FedEx’s, UAW, Ford, General Motors, United Auto Workers Locations: Nashville