Delivery giant FedEx has had a somewhat traumatic year earnings wise with multiple warnings as inflation, rising rates and the supply crunch have all affected it. FDX reporting its November end quarter beat EPS by $0.36 but missed on revenue and guided FY23 EPS below consensus. FedEx reported that fewer packages moved through FedEx’s system for the fourth straight quarter with weaker demand most acute in its Express unit, which provides overnight and international deliveries. FedEx continued to be wounded … Continue reading “FedEx Shipments Fall for Fourth Straight Quarter, Looks to Deeper Cost Cuts”
FedEx Earnings Updated After Profit Warning Pinpoints Cost Cuts of $2.7 Billion
Delivery giant FedEx reported adjusted earnings during the fiscal first quarter of $3.44 a share, matching the preliminary figure from the Sept. 16 profit warning. Revenue was $23.2 billion in the period ended Aug. 31. FedEx continued to be wounded by a collapsing European and Asian economies. Global volume softness accelerated in the final weeks of the quarter. FedEx warned last week that Q1 was down from $4.37 last year and well below the consensus of $5.14. The company reaffirmed … Continue reading “FedEx Earnings Updated After Profit Warning Pinpoints Cost Cuts of $2.7 Billion”
FedEx Profit Warning as Global Volumes Decline, Withdrawing Guidance
Delivery giant FedEx issued a major profit warning after the close Thursday for the first quarter and withdrew guidance for the year. $FDX was down over 11% after hours. FedEx continued to be wounded by a collapsing European and Asian economies. Global volume softness accelerated in the final weeks of the quarter. FedEx sees Q1 non-GAAP EPS of $3.44, down from $4.37 last year and well below the consensus of $5.14. The company reaffirms plans to buyback $1.5b shares. FedEx … Continue reading “FedEx Profit Warning as Global Volumes Decline, Withdrawing Guidance”
FedEx Crushes Earnings as Revenues Soar From Stay Home Economy and Bargain Fuel Prices
FedEx reported a huge beat in second quarter earnings after a series dissappointing earnings affected severeing its Amazon contracts. $FDX was up over 8% after hours. FedEx had been wounded by a slow European economy but is benefiting from the stay at home world at cheap het fuel and diesel.
Amazon Battles Add To FedEx Uncertainty After Earnings Miss
More bad news for FedEx after dissappointing earnings last week, Sunday, Amazon announced third-party sellers could not use $FDX’s Ground and Home shipping for Prime services. FedEx wounded by slow European economy and the trade war took a hit.
FedEx Earnings Miss Warns of Trade Wars Policy Uncertainty
FedEx Corp reported worse than expected first quarter 2020 earnings after the close Tuesday. The trade war has hurt $FDX more than most with it’s large China presence seeing it lower its guidance for full-year 2020. $FDX was trading down about 9% after hours.
FedEx Earnings Beat, Warns of Amazon and Trade Wars Impact
FedEx Corp reported better than expected earnings after the close Tuesday with largely negative expectations as the trade war has hurt $FDX more than most with it’s large China presence. Lower FedEx International Priority package and freight revenues at FedEx Express hurt.