FedEx Corporation (NYSE:FDX) shares were moving higher late in the day as the company unveiled its latest quarterly earnings results.
The parcel service operator posted second-quarter earnings of $3.18 per share on an adjusted basis, 29 cents higher than analysts’ expectations of $2.89 per share. A year ago, the company posted adjusted earnings of $2.77 per share.
Revenue for FedEx’s period amounted to $16.3 billion, ahead of the Wall Street projection of $15.68 billion. The figure topped the year-ago revenue of roughly $14.9 billion.
The company’s operating income was $1.38 billion on an adjusted basis, beating the $1.23 billion in income from a year ago. FedEx’s non-GAAP operating margin was 8.5%, edging out the year-ago non-GAAP operating margin of 8.2%.
“Strategic execution by the FedEx team and a stronger global economy drove improved financial results, and we are well positioned for profitable, long-term growth,” said Frederick W. Smith, FedEx Corp. chairman and CEO.
He added that the company is on track to have yet another record holiday-shopping season, while the quality of its customer service has been off the charts. The company has roughly 400,000 workers around the world who work during the company’s busy holiday season.
For the full fiscal year 2018, FedEx predicts that it will earn between $12.70 and $13.30 per share, which is stronger than the $12.47 per share that analysts covering the stock forecasted.
FDX shares gained 2.4% after the bell, following a regular-hours surge of 0.3%.
