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When FedEx Corp. $ FDX) reported fiscal second-quarter 2018 results of adjusted diluted earnings per share (EPS) of $3.18 on revenues of $16.3 billion. In the same period a year ago, FedEx reported adjusted EPS of $2.77 on revenue of $14.9 billion. Second-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $2.89 and $15.68 billion in revenue.
The company said that operating results were negatively affected to the tune of $0.31 per diluted share resulting from a cyberattack on the company’s TNT Express business in Europe. An adjustment for integrating TNT into the company accounted for $0.33 in second-quarter diluted EPS.
Guided Higher
Not including mark-to-market pension adjustments, FedEx expects adjusted EPS of $11.45 to $12.05 for the full fiscal year. Excluding other one-time charges, the company said it expects fiscal year earnings of $12.70 to $13.30 per share. Capital spending continues to be forecast at $5.9 billion of which $450 million is related to the integration of TNT.
Analysts have forecast third-quarter revenues of $15.78 billion and EPS of $2.83. For the full-year the consensus EPS estimate calls for $12.45 on revenues of $63.21 billion.
FedEx Corp. $FDX upgrades incl:
Baird raised price target to $268 from $265
BMO raised price target to $270 from $265
Citigroup raised price target to $280 from $275.
Raymond James raised price target to $270 from $232
Stifel raised its target to $272 from $221
Credit Suisse has an Outperform rating and raised price target to $283 from $278.FED-EX “NEVER SLEEPS” (esp. this time of year – lol) … and their LIGHTS will be shining all thru season to deliver all those packages as Santa’s helpers 8) They, UPS, and other delivery services will all do great … Even US Post Office may one day “BE GREAT AGAIN” as they could make a profit?
UPS does make a profit
unfortunately for them, Congress is bleeding them dry by appropriating money to make sure it pays for its retirement program. Congress basically doesn’t allow UPS to invest back in itself to compete, which will be its own undoing.
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