FedEx (NYSE:FDX) earnings for the delivery company’s fiscal first quarter of 2021 have FDX stock heading higher after-hours Tuesday. That’s due to its adjusted earnings per share of $4.87 beating out Wall Street’s estimate of $2.69. Its revenue of $19.3 billion also comes in above analysts’ estimate of $17.55 billion.
Let’s take a deeper dive into the most recent FedEx earnings report below.
- Adjusted per-share earnings are up 59.7% from the $3.05 reported during the same time last year.
- Revenue for the quarter is sitting 13.5% higher than the $17 billion reported in fiscal Q1 2020.
- Operating income of $1.59 billion is a 62.2% increase year-over-year from $980 million.
- The FedEx earnings report also has net income coming in at $1.25 billion.
- That’s a 67.8% boost over the company’s net income of $745 million in the same period of the year prior.
Frederick Smith, chairman and CEO of FedEx, said the following in the earnings report.
“Our earnings growth underscores the importance of our business initiatives and investments over the last several years, and, in many ways, the world has accelerated to meet our strategies. I would like to thank our team members whose efforts during this time have helped keep the world’s health care, industrial and at-home supply chains moving despite the challenges of the global pandemic.”
FedEx isn’t providing guidance for fiscal 2021 in its current earnings report. That’s due to uncertainties the company has concerning the rest of the fiscal year. Many companies are withholding outlooks right now due to the novel coronavirus.
FDX stock was up 6.2% after markets closed on Tuesday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.