FedEx (FDX) Stock Pops on Strong Q4 Earnings Report

  • FedEx (FDX) stock is rising alongside a fiscal fourth-quarter earnings beat.
  • That includes adjusted earnings per share (EPS) and revenue beating estimates.
  • The company also released a strong outlook for fiscal 2023.
A FedEx (FDX Stock) employee loads a FedEx Express truck in Manhattan.

Source: Antonio Gravante / Shutterstock.com

FedEx (NYSE:FDX) stock is gaining on Friday following the release of the delivery company’s earnings report for its fiscal Q4 2022.

The good news for FDX stock starts with its adjusted EPS of $6.87. That’s a major win over the $5.20 per share that Wall Street had expected for the period. It’s also a strong increase from the $5.01 reported during the same time last year.

Another highlight from the FedEx earnings report is revenue of $24.4 billion. Yet again, that trumps the $23.62 billion that analysts were looking for during the quarter. It’s also an increase over the $22.6 billion reported during the same period of the prior year.

FedEx also included an outlook for fiscal 2023 in the report. The company notes that it can’t properly estimate mark-to-market (MTM) retirement plans accounting adjustments for the year. Not including that cost, it expects adjusted EPS to range from $22.50 to $24.50. For comparison, Wall Street estimates an adjusted EPS of $22.39 for 2023.

President and CEO Raj Subramaniam said the following in the earnings report:

“Our foundational investments have set the stage for a strong fiscal 2023. As we move forward, our focus will be on revenue quality and lowering our cost to serve. I am honored to lead our dedicated global team who enable FedEx to lead the industry from a position of strength.”

FDX stock is seeing heavy trading with today’s news. This has some 2.7 million shares moving as of this writing, compared to the stock’s daily average trading volume of about 2.5 million shares.

FDX stock is up 8.8% as of Friday morning.

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


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