FedEx Beats Q4 Estimates With $6.31 EPS as Shares Slip 4% After Hours
Updated
Updated · CNBC · Jun 23
FedEx Beats Q4 Estimates With $6.31 EPS as Shares Slip 4% After Hours
3 articles · Updated · CNBC · Jun 23
Summary
$6.31 in adjusted EPS and $25.01 billion in revenue topped analyst forecasts of $5.96 and $24.04 billion in FedEx's fiscal fourth quarter.
FedEx Express drove the beat with $21.57 billion in revenue, while domestic and U.S. priority volumes each rose 3%, supporting management's profitable-growth push.
Shares fell about 4% in extended trading even after the beat, as net income edged down to $1.6 billion from $1.65 billion and fuel costs jumped 66% to $1.43 billion.
June 1 marked the spin-off of FedEx Freight into a separate public company, which paid FedEx Corp. a roughly $4.1 billion cash dividend tied to the separation.
For the full year, FedEx posted $94.7 billion in revenue and forecast 11% growth with adjusted EPS of $16.90 to $18.10, while shifting its fiscal year-end to Dec. 31.