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

FedEx reported mixed Q1 financial results but raised earnings outlook
Revenue of $21.7B missed estimates, EPS of $4.55 beat estimates
Permanent cost reductions of $1.8B expected from DRIVE program
Lowered full-year revenue guidance, raised earnings outlook to $17-18.50 EPS
Analysts from Citigroup, Raymond James, Wells Fargo raised price targets

benzinga.com

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

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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.

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Posted 9/21/2023, 12:56:16 PM

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

FedEx reported mixed Q1 financial results but raised earnings outlook
Revenue of $21.7B missed estimates, EPS of $4.55 beat estimates
Permanent cost reductions of $1.8B expected from DRIVE program
Lowered full-year revenue guidance, raised earnings outlook to $17-18.50 EPS
Analysts from Citigroup, Raymond James, Wells Fargo raised price targets

benzinga.com

Relevant topic timeline:

8/31/2023

Salesforce Earnings Beat, Margins Up Despite AI Investments

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

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.

10/15/2023

Netflix Q3 Earnings: Strong Growth Expected But Outlook Cautious Amid Password Crackdown and Ad Tier Concerns

10/16/2023

Jensen Sticks to Long-Term Winners Like Apple and Microsoft While Passing on Nvidia's AI Hype

10/18/2023

Tesla Q3 Earnings: Profit Squeeze Continues But Signs of Stabilization Emerge Ahead of Cybertruck Launch