FedEx reported third-quarter earnings, surpassing Wall Street's profit expectations but falling slightly short on revenue forecasts. The company announced a third-quarter adjusted EPS of $3.86, beating the estimated $3.46, with revenue at $21.7 billion against an expected $22.05 billion. Additionally, FedEx has authorized a new $5 billion share repurchase program, adding to the existing $0.6 billion remaining from the 2021 authorization and plans a $500 million buyback in the fourth quarter as a cost-cutting benefit. This move comes as part of FedEx's efforts to boost profitability amidst a challenging demand environment, including a decline in demand from its largest customer, the U.S. Postal Service, and a low-single-digit percentage decline in revenue Y/Y for 2024. The company also narrowed its full-year earnings forecast, now expecting adjusted EPS to be between $17.25 and $18.25. The positive earnings report and the announcement of the buyback program led to a significant increase in FedEx's stock price, with shares jumping over 10% in after-hours trading.
FedEx shares were up 8.2% in morning trading after it posted a quarterly profit that topped estimates. The package delivery company also said its operating margin rose at Express, its largest division. More here: https://t.co/Y2sKeVrQJg https://t.co/FLBb5j8YFp
FedEx shares surged in morning trading after the parcel giant beat estimates for quarterly profit and reported a higher operating margin at Express, its largest unit https://t.co/kbFW2cSUX7 https://t.co/cHLlwRxzo0
$FDX Goldman Sachs reiterates FedEx as buy Goldman is standing by its buy rating on the overnight shipping company following Thursday’s earnings report. “While there remains near term risk as we end fiscal 2024, we continue to favor FDX given their cost takeout initiatives, in…
FedEx plans to buy back $5 billion of its shares as cost-cutting efforts help boost profits, sending the courier’s stock soaring the most in a year https://t.co/rfgOrgoq5z https://t.co/VnnzfslhGy
FedEx Corp. late Thursday reported adjusted earnings of $3.86 per diluted share in its fiscal 2024 third quarter, well above analysts’ estimates of $3.45 per share, sending shares up sharply in after-hours trading. https://t.co/PVcDwaC8Jb
FedEx jumps on profit beat, improved margins in its Express unit https://t.co/EkaATdzqBZ https://t.co/oqGSqJrsoq
$FDX (+11.4% pre) FedEx’s stock soars toward a 3-year high after a profit beat, $5 billion buyback - MW https://t.co/Nnr8AJ6EeW
FedEx jumps on profit beat, improved margins in its largest unit https://t.co/EsdztoK54L https://t.co/FLCA7j9SGW
⚠️ FEDEX JUMPS ON PROFIT BEAT, IMPROVED MARGINS IN ITS LARGEST UNIT Full Story → https://t.co/8yrMNy3vWE FedEx shares surged in premarket trading on Friday after the parcel giant beat estimates for quarterly profit and reported a higher operating margin at Express, its… https://t.co/WNWQdLeyY8
Adjusted earnings at @FedEx for fiscal Q3 were $3.86 a share for the period ending Feb. 29, topping Wall Street’s third-quarter expectations of $3.46 a share. https://t.co/NuYeSU2WNF
FedEx Corp $FDX Earnings: - Diluted EPS of $3.51 - Adjusted Diluted EPS of $3.86 - Revenue of $21.7 billion “FedEx delivered another quarter of improved profitability in what remains a difficult demand environment, reflecting outstanding service and continued benefits from… https://t.co/n1r9w6WfLu
FedEx delivering an earnings beat to investors! @timseymour, @KARInvest's Julie Biel and @Michael_Khouw trade the report. $FDX https://t.co/o6EMIpGPLg
FedEx tightens 2024 profit forecast on cost cuts, shares jump 12% https://t.co/FOUxDYqEtO https://t.co/B8trfoR5j2
$FDX FedEx Q3 FY24 (ending Feb. 2024). • Revenue -2% Y/Y to $21.7B ($0.4B miss). • Non-GAAP EPS $3.86 ($0.38 beat). Margin gains attributed to the DRIVE program. FY24 guidance: • Low single-digit decline (unchanged). • Non-GAAP EPS ~$17.8 (narrower range). https://t.co/5cqwCyBFq6
FedEx with beats EPS, misses on revenue. CEO: "FedEx delivered another quarter of improved profitability in what remains a difficult demand environment" $FDX: +12% AH https://t.co/AFwtYoqPGL https://t.co/wKeVXn4Gqh
$FDX | FedEx Stock Climbs On Q3 Results: EPS Beat, $5B Share Buyback FedEx reports quarterly earnings of $3.86 per share which beat the analyst consensus estimate of $3.45 by 11.88%. Quarterly sales come in at $21.7 billion, missing the analyst consensus estimate of $22.04… https://t.co/IMYUUig8LM
FedEx 3Q Earnings Rise Despite Weak Demand; Stock Jumps https://t.co/qbkLfS6nWM @wsj
FedEx’s stock jumps 10% after logistics company raises guidance, trims spending https://t.co/TqCkNXdtLe
⚠️ FEDEX RAISES 2024 PROFIT FORECAST Full Story → https://t.co/tQ94CqEltt FedEx raised its fiscal 2024 profit forecast on Thursday, expecting cost cuts to offset a decline in demand from its largest customer, the U.S. Postal Service (USPS).
FedEx $FDX surges on earnings, guidance beat; board approves new buyback plan https://t.co/Hq4yjJo6ZK https://t.co/fVnzdfaFXy
FedEx beat Wall Street’s third-quarter profit expectations and narrowed its full-year forecast after seeing results from cost-cutting efforts https://t.co/KFtTOluMhV
$FDX (10.30% after-hours) FedEx missed on both top and bottom line in addition to cutting guidance but the market didn't seem to care as the stock shot up following its report 🧐🤷♂️ https://t.co/xCsUI3qacX
$FDX | FedEx Q3 Earnings: - EPS $3.86 (Est. $3.45) - Sales $21.70B (Est. $22.04B) - Board Of Directors Has Also Authorized A New $5B Share Repurchase Program, In Addition To The Existing $0.6B That Remains Available For Repurchase Under The 2021 Authorization - Plans…
Fedex $FDX better than expected on 3Q EPS, $500mn buyback in 4Q (cost cutting benefit) -3Q REV. $21.7B, EST. $22.05B -FEDEX 3Q ADJ EPS $3.86, EST. $3.46 -SEES FY ADJ EPS 17.25-18.25 vs est 17-18.50 (slightly weaker)
$FDX | FedEx Q3 24 Earnings Results: - Adj EPS: $3.86 (est $3.56) - Revenue: $21.7B (est $22.05B) - Sees Fiscal 2024 Earnings Per Diluted Share Of $15.65 To $16.65 - Reduces Capital Spending Forecast - Sees Low-Single-Digit Percentage Decline In Revenue Y/Y For 2024 - Sees 2024… https://t.co/N0vf9Cnn3k
*FEDEX 3Q ADJ EPS $3.86, EST. $3.46 3Q REV. $21.7B, EST. $22.05B EXPECTS TO BUYBACK ADDED $500M OF STOCK DURING FISCAL 4Q NARROWS FY EARNINGS OUTLOOK RANGE SEES FY ADJ EPS $17.25 TO $18.25, SAW $17 TO $18.50 3Q ADJ. OPER INCOME $1.36B, EST. $1.24B $FDX
FEDEX $FDX JUST REPORTED EARNINGS EPS of $3.86 beating expectations of $3.48 Revenue of $21.7B missing expectations of $22.1B FedEx just announced a new $5 Billion share buyback program
Big FBX jump: - FBX: 2659 (+123) $ZIM +3% today and back over $10 $HLAG $MAERSK https://t.co/6kp1lo7Daz
FedEx’s Earnings Are Today. Watch Sales and Package Volumes. https://t.co/RaTpwEnAlS