FedEx Tops Earnings Estimates, Lifts Full-Year Outlook Despite Margin Pressures

FedEx earned more than expected and raised its full-year financial forecasts, lifting the stock.
Earnings per share of $3.44 beat expectations of $3.33.
Revenue of $23.2 billion was slightly below expectations.
FedEx raised its fiscal 2023 EPS guidance range to $14.75-$15.45 from $14.50-$15.50.
Higher costs continued to pressure margins but the company said it's making progress on cost initiatives.

barrons.com

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Posted 9/20/2023, 8:36:00 PM

FedEx Tops Earnings Estimates, Lifts Full-Year Outlook Despite Margin Pressures

FedEx earned more than expected and raised its full-year financial forecasts, lifting the stock.
Earnings per share of $3.44 beat expectations of $3.33.
Revenue of $23.2 billion was slightly below expectations.
FedEx raised its fiscal 2023 EPS guidance range to $14.75-$15.45 from $14.50-$15.50.
Higher costs continued to pressure margins but the company said it's making progress on cost initiatives.

barrons.com

Relevant topic timeline:

9/5/2023

The most important driver of stock prices is on the rise: Morning Brief

Despite market instability, corporate earnings estimates for the third quarter and beyond have been consistently raised, signaling optimism for the stock market's long-term performance.

9/8/2023

DocuSign Stock Jumps on Earnings Beat Despite Macro Pressures

DocuSign stock rises as the company surpasses earnings expectations and raises guidance, despite macroeconomic pressures.

9/21/2023

FedEx Benefits from Rivals' Woes in Latest Earnings Report

9/21/2023

FedEx Beats Earnings Expectations, Lifts Guidance Despite Muted Revenue Outlook

FedEx reported a big quarterly profit beat after cutting costs and attracting customers from competitors UPS and Yellow, leading to a 5.7% rise in its shares.

9/21/2023

Stocks Mixed After Earnings: FedEx Gains on Beat, KB Home Falls Despite Beat, Klaviyo Slides Post-IPO

FedEx stock gained over 5% after exceeding earnings expectations in its fiscal first-quarter report, reporting adjusted earnings of $4.55 per share compared to the forecasted $3.71 per share.

9/21/2023

FedEx Beats Earnings Estimates But Lowers Revenue Outlook Despite Cost Cuts and Raised Profit Forecast

10/12/2023

Strong Q3 Earnings Expected, But Analysts Cautious on Stock Gains

The upcoming earnings season is expected to bring higher-than-expected earnings for companies, but this is not anticipated to lead to a significant rise in the stock market.