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Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
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FedEx Falls on Mixed Q2 Earnings, Fiscal 2017 Guidance 'On Track'
FedEx Corp. (FDX - Free Report) just released its second quarter fiscal 2017 financial results after the bell, posting diluted earnings of $2.80 per share and revenues of $14.9 billion. FDX is a #3 (Hold) on the Zacks Rank, and is down 2.89% to $193.00 per share in after-hours trading.
Missed earnings estimates. The company reported adjusted earnings of $2.80 per diluted share, missing the Zacks Consensus Estimate of $2.91 per share.
Beat revenues estimates. The company saw revenue figures of $14.9 billion, just edging past our consensus estimate of $14.885 billion and gaining 19.2% year-over-year.
Non-GAAP operating income of $1.23 billion rose compared to last year, primarily due to the inclusion of TNT Express and increased base rates and ongoing cost efficiencies at FedEx Express.
FedEx chief financial officer Alan B. Graf said the company is “on track” to achieve its fiscal 2017 earnings forecast, as FedEx continues its long-term investments throughout its networks.
“FedEx increased revenues and operating income despite continued low growth rates in the global economy. We are in the home stretch of our peak shipping season, and our service levels are high, thanks to the outstanding efforts of our hundreds of thousands of team members around the world,” said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer.
Here’s a graph that looks at FedEx’s price, consensus, and EPS surprise:
FEDEX CORP Price, Consensus and EPS Surprise
FEDEX CORP Price, Consensus and EPS Surprise | FEDEX CORP Quote
FedEx Corporation is a global transportation and logistics enterprise that offers customers a one-stop source for global shipping, logistics and supply chain solutions. Services offered by FedEx companies include worldwide express delivery, ground small-parcel delivery, less-than-truckload freight delivery and global logistics, supply chain management and electronic commerce solutions.
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