FedEx Corporation
- FedEx jumped 11.6% to $295.58 after the parcel delivery company reported better-than-expected quarterly results.
Net revenue in the fiscal third quarter ending in January declined to $21.7 billion from $22.2 billion, net income rose to $879 million from $771 million, and diluted earnings per share rose to $3.51 from $3.05 a year ago.
The logistics company guided fiscal 2024 revenue to decline in a low-single-digit percentage and earnings per diluted share between $15.65 and $16.65 before the mark-to-market retirement plan monthly adjustments.
The company also completed the purchase of 4.1 million shares for $1.0 billion in the quarter, and the board of directors approved another $5 billion stock buyback plan, in addition to the remaining $0.6 billion available in the previously authorized plan in 2021.
FedEx expects to repurchase an additional $500 million of common stock during the fiscal fourth quarter, which will bring the fiscal 2024 buyback total to $2.5 billion.
Mar 23, 2024 - FedEx dropped 11.1% to $248.85 after the parcel delivery company reported mixed quarterly results and an estimated annual revenue outlook that fell short of investors' expectations.
Revenue in the fiscal second quarter ending in November decreased to $22.2 billion from $22.8 billion. Net income edged up to $900 million from $788 million, and diluted earnings per share rose to $3.55 from $3.07 a year ago.
The company estimated full-year revenue to decline by a "low-single-digit" percentage compared to the prior estimate of flat revenue growth.
The company estimated full-year diluted earnings per share to range between $15.35 and $16.85 before mark-to-market retirement plans accounting adjustment and between $17.0 and $18.50 excluding costs related to business optimization initiatives.
Dec 20, 2023 - FedEx Corp increased 4.6% to $262.09 after the parcel delivery company reported better-than-expected quarterly results and earnings rose despite the decline in revenue.
Revenue in the fiscal first quarter ending in August declined 7% to $21.6 billion from $23.6 billion and net income jumped 23% to $1.0 billion from $875 million and diluted earnings per share rose 27% to $4.23 from $3.33 from a year ago.
Sep 21, 2023 - FedEx Corp declined 3% to $224.01 after the parcel delivery company grounded additional planes because of lack of demand.
FedEx reported weaker-than-expected quarterly revenue but adjusted earnings were ahead of market expectations.
Revenue in the fiscal fourth quarter ending in May declined 10% to $21.9 billion from $24.3 billion and net income increased to $1.5 billion from $558 million and diluted earnings per share rose to $6.05 from $2.13 a year ago.
For the fiscal year 2023, revenue declined 4% to $90 billion from $93.5 billion and net income increased 8% to $3.9 billion from $3.8 billion and diluted earnings per share increased to $15.48 from $14.33 a year ago.
The company forecasted capital spending of $5.7 billion in the fiscal 2024 and estimated diluted earnings per share between $15.0 and $17.0 before accounting for mark-to-market retirement plans adjustments and estimated revenue percentage growth between "flat to low single digit" from the previous year.
Jun 21, 2023 - FedEx Corp said revenue in the fiscal third quarter ending in February declined to $22.2 billion from $23.6 billion and net income fell to $771 million from $1.1 billion and diluted earnings per share dropped to $3.05 from $4.20 a year ago.
The parcel delivery company completed a repurchase of 9.2 million shares in the fiscal third quarter.
The company lifted its fiscal year 2023 diluted earnings per share forecast in the range of $13.80 to $14.40 before the mark-to-market retirement plans accounting adjustments, compared to the prior forecast of $12.50 to $13.50 a share.
The company estimated fiscal year capital spending of $5.9 billion.
Mar 17, 2023
| Year | Aug | Nov | Feb | May | Annual | |
|---|---|---|---|---|---|---|
| 2023 | 3.05 | 6.03 | 4.23 | 3.55 | - | |
| 2022 | 4.2 | 2.16 | 3.33 | 3.07 | 15.48 | |
| 2021 | 3.3 | 6.88 | 4.09 | 3.88 | 14.33 | |
| 2020 | 1.2 | -1.27 | 4.72 | 4.55 | 19.45 | |
| 2019 | 2.8 | -7.38 | 2.84 | 2.13 | 4.9 | |
| 2018 | 7.59 | 4.17 | 3.1 | 3.51 | 2.03 | |
| 2017 | 2.35 | 4.25 | 2.51 | 3.18 | 12.29 | |
| 2016 | 2.51 | - | 2.90 | 2.80 | 8.21 | |
| 2015 | 2.01 | 2.66 | 2.42 | 2.58 | 9.67 | |
| 2014 | 2.26 | 2.31 | 1.23 | 3.15 | 7.48 | |
| 2013 | 1.53 | 1.57 | 1.13 | 4.58 | 8.55 | |
| 2012 | 1.45 | 1.39 | 1.65 | 1.73 | 6.41 | |
| 2011 | 1.46 | 1.57 | 0.73 | 1.75 | 4.57 | |
| 2010 | 1.20 | 0.89 | 0.76 | 1.32 | 3.76 | |
| 2009 | 0.58 | 1.10 | 0.31 | -2.81 | 0.31 | |
| 2008 | 1.23 | 1.58 | 1.26 | -0.78 | 3.6 | |
| 2007 | 1.58 | 1.54 | 1.35 | 1.96 | 6.48 | |
| 2006 | 1.53 | 1.64 | 1.38 | 1.82 | 5.83 | |
| 2005 | 1.10 | 1.53 | 1.03 | 1.46 | 4.72 |