FedEx (FDX) reported $22.11 billion in revenue for the quarter ended May 2024, representing a year-over-year increase of 0.8%. EPS of $5.41 for the same period compares to $4.94 a year ago.The reported revenue represents a surprise of -0.03% over the Zacks Consensus Estimate of $22.12 billion. With the consensus EPS estimate being $5.34, the EPS surprise was +1.31%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectat ...

FedEx (FDX) came out with quarterly earnings of $5.41 per share, beating the Zacks Consensus Estimate of $5.34 per share. This compares to earnings of $4.94 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.31%. A quarter ago, it was expected that this package delivery company would post earnings of $3.49 per share when it actually produced earnings of $3.86, delivering a surprise of 10.60%.Over the last four quarters, the com ...

Key TakeawaysFedEx reported stronger-than-expected fourth-quarter earnings, sending the stock more than 14% higher in extended trading Tuesday.The company's revenue grew slightly from the year-ago period and came in ahead of expectations. Net income declined on a year-over-year basis, but beat estimates.FedEx CEO Raj Subramaniam said the results reflect the company's initiatives to drive profitability and cut costs, and that the company expects the "momentum to continue." FedEx (FDX) reported better-than-ex ...

Core Insights - FedEx shares surged over 15% after reporting fiscal fourth-quarter results that exceeded analysts' expectations in both earnings and revenue [1] - The company reported adjusted earnings per share of $5.41, slightly above the expected $5.35, and revenue of $22.11 billion, surpassing the anticipated $22.07 billion [1] - For the fiscal year, FedEx's revenue was $87.7 billion, a decrease from $90.2 billion the previous year [1] Financial Performance - Net income for the three-month period ending May 31 was $1.47 billion, or $5.94 per share, compared to $1.54 billion, or $6.05 per share, a year earlier [1] - Revenue increased to $22.1 billion, up from $21.9 billion year-over-year [1] - Capital spending for fiscal 2024 was reported at $5.2 billion, down 16% from $6.2 billion in fiscal 2023 [1] Future Guidance - FedEx anticipates low-to-mid single-digit percent revenue growth year-over-year for fiscal 2025 and plans to permanently cut $2.2 billion in the following fiscal year [2] - The company aims to achieve a total of $4 billion in cost reductions by the end of fiscal 2025 as part of its DRIVE transformation program [2] - CEO Raj Subramaniam confirmed that the company is on track to meet its cost-cutting goals, having already achieved $1.8 billion in structural cost reductions in fiscal 2024 [2] Strategic Initiatives - As part of the DRIVE initiative, FedEx will consolidate its delivery companies into a unified Federal Express Corporation, expected to handle all deliveries starting June 2024 [3] - The Express segment's operating margin for fiscal 2024 was 2.6%, a slight increase from 2.5% the previous year, with margin growth being a top priority for the company [3] Challenges and Risks - FedEx recently lost its U.S. Postal Service contract to UPS, which is expected to create a $500 million headwind in fiscal 2025 [4] - Despite the cost-cutting measures, the loss of the USPS contract poses significant challenges for the Express segment, which was the largest customer for FedEx [4]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Loading...Loading...Logistics company FedEx Corporation FDX reported fourth-quarter financial results after the market close Tuesday.Here are the key highlights for investors. What Happened: FedEx reported fourth-quarter revenue of $22.1 billion, which beat a Street consensus estimate of $22.06 billion, according to data from Benzinga Pro.The company reported earnings per share of $5.41, which beat a Street consensus estimate of $5.37.Revenue, operating income and operating margins were all up on a year-ove ...

Exhibit 99.1 FedEx Reports Higher Full-Year Diluted EPS of $17.21 and Adjusted Diluted EPS of $17.80 Introduces Fiscal 2025 Outlook, Including $2.2 Billion of DRIVE Cost Savings Conducting an Assessment of the Role of FedEx Freight in Value-Creation Plans Returned $3.8 Billion to Stockholders Through Stock Repurchases and Dividends During Fiscal 2024 MEMPHIS, Tenn., June 25, 2024 ... FedEx Corp. (NYSE: FDX) today reported the following consolidated results for the quarter ended May 31 (adjusted measures exc ...

Tuesday, June 25th, 2024We’re experiencing a reverse of the reversal ahead of today’s open. The Dow, which has led market indices since last week’s Juneteenth break, is currently -73 points, while the S&P 500 is +6 points and the Nasdaq +69. This is more the feel we’ve experienced for most of this past quarter, which ends when this workweek does. The Dow is still down -1% from the start of the quarter, while the S&P and Nasdaq are up +4% and +7.5%, quarter to date.Case-Shiller Home Prices for April have jus ...

Now fully in the summer trading weeks, we expect to move a little more slowly. We do have some key economic data and even some important earnings reports expected by the end of this week, but nothing of note today — aside from some Fed-speak from Chicago President Austan Goolsbee, San Francisco President Mary Daly and Fed Governor Christopher Waller. An hour before the opening bell, the Dow is currently up +88 points, the S&P 500 is +2 and the Nasdaq is -20 points.The Housing sector will see some important ...

Monday, June 24th, 2024Now fully in the summer trading weeks, we expect to move a little more slowly. We do have some key economic data and even some important earnings reports expected by the end of this week, but nothing of note today — aside from some Fed-speak from Chicago President Austan Goolsbee, San Francisco President Mary Daly and Fed Governor Christopher Waller. An hour before the opening bell, the Dow is currently up +88 points, the S&P 500 is +2 and the Nasdaq is -20 points.The Housing sector w ...