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FedEx Earnings: FDX Stock Heads 2% Higher on Revenue Beat

FDX missed EPS estimates

FedEx (NYSE:FDX) earnings for fiscal third quarter of 2020 have FDX stock heading higher after-hours Tuesday. This comes after reporting adjusted earnings per share (EPS) of $1.41, which is below Wall Street’s estimate of $1.43. However, the delivery company’s revenue of $17.49 billion beats out analysts’ estimates of $16.9 billion.

FedEx Earnings: FDX Stock Heads 2% Higher on Revenue Beat
Source: Antonio Gravante / Shutterstock.com

The following is a closer look at the most recent FedEx earnings report.

  • Adjusted per-share earnings are down 53.47% from $3.03 during the same time last year.
  • Revenue for the quarter comes in 2.82% higher than the $17.01 billion reported in the fiscal third quarter of 2019.
  • Operating income of $411 million is a 54.88% drop year-over-year from $911 million.
  • The FedEx earnings report also has it bringing in a net income of $315 million.
  • That’s 57.37% worse than the company’s net income of $739 million from the same period of the year prior.

Frederick Smith, chairman and CEO of FedEX, said this about the FDX stock earnings report:

“While the global economic impact from recent social distancing mandates is uncertain, we remain well positioned to assist our customers as they work to manage their supply chains and inventories. We will continue to support efforts to combat the pandemic.”

The FedEx earnings report doesn’t contain an outlook. According to the company, this is due to the ongoing headwinds it’s facing due to the coronavirus from China.

FDX stock was up 2.15% after markets closed Tuesday and were up 4.94% at the close.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/03/fedex-earnings-boost-fdx-stock/.

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