Photo: Wikimedia Commons
Shipping companies like UPS and FedEx are frequently seen as the best economic bellwethers around. Therefore, when FedEx reports earnings tomorrow, it will be read for clues to the broader economy: Domestic activity, the US consumer, China, etc.Here’s what to expect, courtesy of Deutsche Bank:
- Earnings: Look for $1.70/share and revenue of $10.4 billion. For Fiscal Year 2012, Deutsche Bank sees EPS of $6.42, which would represent a 13.6x forward multiple.
- The outlook is key. Deutsche Bank expects it will ease “jittery investors”.
- On the fuel front, diesel and jet fuel rose 33% and 48% respectively in the quarter. However, the company should have done well recovering some of this loss, thanks to fuel surcharges.
Stepping back a second, last quarter the company posted somewhat disappointing numbers, which the company blamed on weather and fuel charges.
For a roundup of Tuesday’s big action, see here.
Business Insider Emails & Alerts
Site highlights each day to your inbox.