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FedEx Corporation Stock Edges Higher on Earnings Beat

FDX stock fell during regular trading hours ahead of earnings

By Karl Utermohlen, InvestorPlace Writer

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FedEx Corporation (NYSE:FDX) announced its latest quarterly earnings report after hours Tuesday, unveiling results that were ahead of what Wall Street was calling for.

FedEx CorporationThe parcel shipping company unveiled that it topped analysts’ expectations in its earnings and revenue for the third straight quarter, posting adjusted earnings of $5.91 per share for the period. Analysts were calling for the company to bring in adjusted earnings of roughly $5.72 per share, according to data compiled by Zacks Investment Research.

On the revenue front, FedEx also impressed with sales of roughly $17.3 billion. In its consensus estimate, Wall Street was projecting a year-over-year revenue surge of 9%, reaching $17.186 billion, according to data from a survey carried out by Zacks.

The company also declared a quarterly cash dividend of 65 cents per share recently. FedEx was not able to provide a fiscal 2019 earnings guidance or an effective tax rate outlook on a GAAP basis.

Nevertheless, the company announced that it was targeting revenue growth of about 9% compared to the year-ago period, while its fiscal 2018 operating margin is slated to arrive at 7.9%. The figure would be an improvement over the company’s fiscal 2018 operating margin of 6.5%.

FedEx’s operating margin will be roughly 8.5% when excluding its TNT Express integration expenses.

FDX stock was up about 0.5% after the bell on the company’s earnings beat Tuesday. The stock declined 2% during regular trading hours in anticipation of the company’s report.


Article printed from InvestorPlace Media, https://investorplace.com/2018/06/fedex-corporation-fdx-3/.

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