FedEx Beats Earnings Expectations, Lifts Guidance Despite Muted Revenue Outlook

FedEx reported a 32% jump in fiscal Q1 adjusted earnings, beating expectations. Shares rose on strong quarterly results.
FedEx said it gained UPS and Yellow customers ahead of the holiday shipping season, boosting Ground unit volumes.
FedEx tightened full-year earnings guidance, now seeing $17 to $18.50 per share vs prior $16.50 to $18.50.
FedEx tempered full-year revenue outlook, now seeing flat growth vs up to low single digits previously.
FedEx plans to repurchase $1.5 billion of stock this fiscal year as part of shareholder returns.

reuters.com

Relevant topic timeline:

9/20/2023

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

FedEx's earnings beat expectations and the company raised its full-year financial forecasts, leading to a rise in the stock price.

9/21/2023

FedEx Benefits from Rivals' Woes in Latest Earnings Report

FedEx reported adjusted earnings of $4.55 per share, an increase from $3.44 per share last year, attributing the boost to a strike threat at UPS and the bankruptcy of Yellow Corp, though overall demand remains "muted" and the macroeconomic picture is "a little bit softer."

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

FedEx shares rise after reporting mixed financial results and raising earnings outlook, with multiple analysts increasing their price targets; Q1 revenue missed estimates but earnings beat forecasts, driven by the DRIVE program initiative and expense controls, leading to better-than-expected overall financial performance, as the company lowers full-year revenue guidance but raises earnings outlook.

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Posted 9/21/2023, 12:15:00 AM

FedEx Beats Earnings Expectations, Lifts Guidance Despite Muted Revenue Outlook

FedEx reported a 32% jump in fiscal Q1 adjusted earnings, beating expectations. Shares rose on strong quarterly results.
FedEx said it gained UPS and Yellow customers ahead of the holiday shipping season, boosting Ground unit volumes.
FedEx tightened full-year earnings guidance, now seeing $17 to $18.50 per share vs prior $16.50 to $18.50.
FedEx tempered full-year revenue outlook, now seeing flat growth vs up to low single digits previously.
FedEx plans to repurchase $1.5 billion of stock this fiscal year as part of shareholder returns.

reuters.com

Relevant topic timeline:

9/20/2023

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

FedEx's earnings beat expectations and the company raised its full-year financial forecasts, leading to a rise in the stock price.

9/21/2023

FedEx Benefits from Rivals' Woes in Latest Earnings Report

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