FedEx (FDX) Shares Pop On Big Q2 Earnings, Revenue Beats

By Zacks Investment ResearchStock MarketsDec 19, 2017 05:28AM ET

www.investing.com/analysis/fedex-fdx-shares-pop-on-big-q2-earnings-revenue-beats-200274543

FedEx (FDX) Shares Pop On Big Q2 Earnings, Revenue Beats

By Zacks Investment Research | Dec 19, 2017 05:28AM ET

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FedEx Corp. (NYSE:FDX) just released its second quarter fiscal 2018 financial results, posting adjusted earnings of $3.18 per share and revenues of $16.3 billion. FDX is currently a #3 (Hold) on the Zacks Rank, and is up 2.2% to $247 per share in after-hours trading.

FedEx:

Beat earnings estimates. The delivery giant reported adjusted earnings of $3.18 per diluted share, surpassing the Zacks Consensus Estimate of $2.87 per share. Net income was $866 million for the quarter.

FedEx noted that both as-reported and adjusted fiscal 2018 earnings reflect the estimated negative impact of the June 27 cyberattack affecting TNT Express ($0.31 per diluted share).

Beat revenue estimates. The company saw revenue figures of $16.3 billion, also our consensus estimate of $15.67 billion.

Adjusted operating income was $1.38 billion, while adjusted operating margin was 8.5%.

FedEx’s executive vice president and CFO Alan B. Graf said that the company is increasing it fiscal 2018 forecast, and that FedEx expects to see improvements in its fiscal second half.

“Strategic execution by the FedEx team and a stronger global economy drove improved financial results, and we are well positioned for profitable, long-term growth,” said Frederick W. Smith, FedEx Corp. chairman and chief executive officer.

“We are on track for another record holiday-shipping season, and customer-service levels have been outstanding. We thank our more than 400,000 dedicated team members around the world for their extraordinary dedication,” Smith continued.

Here’s a graph that looks at FedEx’s price, consensus, and EPS surprise:

FedEx Corporation Price, Consensus and EPS Surprise

FedEx Corporation Price, Consensus and EPS Surprise | FedEx Corporation 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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FedEx (FDX) Shares Pop On Big Q2 Earnings, Revenue Beats

FedEx Corporation Price, Consensus and EPS Surprise

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