FedEx Earnings Beat Expectations Driven By Record Holiday Package Shipping

FedEx

Photo: CrystianCruzviaFlickr

FedEx, a global economic bellwether, just reported a strong financial results.Fiscal Q3 EPS jumped to $1.65.  Excluding one-time items, EPS jumped to $1.55.  Analysts were looking for $1.35.

Revenue jumped 9 per cent to $10.56 billion, which was just shy of analysts’ estimate.

“FedEx Corp. results were driven by improving yields, record holiday package shipping and exceptional performance at FedEx Ground,” said CEO Fred Smith. “We expect our solid performance to continue in our fourth quarter, capping off a strong fiscal year.”

Management expects to earn $1.75 to $2.00 per share in fiscal Q4 versus analysts’ estimate of $1.98.

More details to come…

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