FedEx Earnings: FDX Stock Higher on Q4 Earnings Beat

FedEx (NYSE:FDX) reported its latest quarterly earnings figures late today, bringing in mostly positive results that included an earnings total that surpassed what analysts called for in the Wall Street consensus estimate, helping to lift FDX stock more than 1% after the bell.

FedEx EarningsThe Memphis, Tenn.-based courier delivery service said that for its fourth quarter of its fiscal 2019, it amassed net losses of $1.97 billion, or $7.56 per share. This was a disappointment when compared to the company’s net income from the year-ago quarter of $1.13 billion, or $4.15 per share.

When adjusting for items such as retirement-plan accounting, business integration costs and several other items, FedEx said that it brought in a profit of $5.01 per share. This proved to be a positive figure for the company as the Wall Street consensus estimate saw the business amassing adjusted earnings of $4.85 per share, according to the average estimate of analysts as surveyed by FactSet.

The parcel service provider added that its revenue for the period came in at $17.8 billion, which was $500 million higher than it was during the same period a year ago, when it raked in $17.3 billion in sales. Wall Street said it saw FedEx bringing in sales of $17.8 billion, according to a survey of analysts conducted by FactSet.

For its first quarter of the new fiscal year, analysts see the company’s adjusted earnings at roughly $3.47 per share, while sales are slated to be around $17.3 billion. FedEx said that it is unable to forecast retirement-plan accounting adjustments, which means it cannot yet provide an outlook for its earnings of its fiscal 2020.

FDX stock is gaining roughly 1.3% after hours Tuesday following the company’s strong quarterly earnings results. Shares had been falling 3% during regular trading hours today.

Article printed from InvestorPlace Media,

©2021 InvestorPlace Media, LLC