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FedEx Earnings: FDX Stock Drops on Revised 2019 Earnings Forecast

The company's second-quarter results missed the mark as well

By Karl Utermohlen, InvestorPlace Writer

http://bit.ly/2A4Q1lI

FedEx earnings (NYSE:FDX) were released late in the day Tuesday, unveiling figures that came in below what analysts were calling for, while its fiscal 2019 guidance was also lowered, sending FDX stock sliding after hours.

FedEx EarningsThe parcel service provider said that for its second quarter of its fiscal 2019, it brought in earnings of $4.03 per share, which is two cents below the $4.05 per share that the Wall Street consensus estimate called for, according to data compiled by Zacks Investment Research. Its revenue did come in ahead of what analysts were calling for at $17.8 billion, ahead of the $17.71 billion that Wall Street projected, according to data compiled by Zacks.

For its fiscal 2019, FedEx now sees its earnings to be in the range of $15.50 to $16.60 per share, which is below its previous outlook of $17.20 to $17.80 per share. Company chairman and CEO Frederick W. Smith highlighted that the parcel service provider is currently on another record-setting holiday period, thanking the company’s workforce around the world of more than 450,000 employees.

FDX stock is down about 4.5% after the bell on Tuesday afternoon following the company releasing its quarterly earnings results, which were below what analysts were calling for, while its guidance suggests that the rest of the fiscal year will disappoint as well. Shares had gained close to 1.6% during regular trading hours as the company geared up to report its latest results.


Article printed from InvestorPlace Media, https://investorplace.com/2018/12/fedex-earnings-fdx-stock-2/.

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