FedEx Earnings: Here’s Why Investors Like These Results
FedEx Corporation (NYSE:FDX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.9%.
FedEx Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 5.52% to $1.53 in the quarter versus EPS of $1.45 in the year-earlier quarter.
Revenue: Rose 1.93% to $11 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: FedEx Corporation reported adjusted EPS income of $1.53 per share. By that measure, the company beat the mean analyst estimate of $1.50. It beat the average revenue estimate of $10.97 billion.
Quoting Management: “Growth in overall demand for our broad global portfolio of solutions drove our improved first quarter results,” said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer. “FedEx Express remains focused on reducing costs while facing challenging global economic conditions. Meanwhile, FedEx Ground continues to generate strong profitability on growing customer demand for its services.”
Key Stats (on next page)…