FedEx (FDX) Beats Q4 Views Amid Falling Volumes; Outlook Offers Little Comfort
Tweet Send to a Friend
Get Alerts FDX Hot Sheet
Price: $100.05 +1.12%
EPS Growth %: -25.5%
Financial Fact:
REVENUES: 10.95B
Today's EPS Names:
LBIX, ESEA, ISS, More
EPS Growth %: -25.5%
Financial Fact:
REVENUES: 10.95B
Today's EPS Names:
LBIX, ESEA, ISS, More
Trade FDX Now!
FedEx (NYSE: FDX) shares are indicated for a lower open Tuesday following the parcel shippers fourth-quarter 2012 report.
Sales for FedEx rose 4 percent year over year to $11.0 billion, shy of Street views expecting $11.12 billion.
Net income, before adjustments, rose 14 percent to $634 million, or $1.99 per share. EPS beat views by $0.07.
Of note, FedEx Express, the company's largest segment, reported a 3 percent slip in net income to $415 million as operating margin narrowed 40 basis points (before adjustment) to 6.1 percent. FedEx attributed the margin compression to an "aircraft impairment charge as well as declining package volumes."
Both Ground and Freight segments showed improving operating margins as well as net income.
Looking ahead, FedEx sees first-quarter 2013 EPS of $1.45 to $1.60 and fiscal 2013 EPS of $6.90 to $7.40. The Street is currently expecting EPS of $1.70 and $7.39, respectively. FedEx noted EPS numbers "[do] not include the impacts of the significant cost reduction programs currently under review that should be announced in the fall."
Shares are about 1.9 percent lower ahead of the open.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Sales for FedEx rose 4 percent year over year to $11.0 billion, shy of Street views expecting $11.12 billion.
Net income, before adjustments, rose 14 percent to $634 million, or $1.99 per share. EPS beat views by $0.07.
Of note, FedEx Express, the company's largest segment, reported a 3 percent slip in net income to $415 million as operating margin narrowed 40 basis points (before adjustment) to 6.1 percent. FedEx attributed the margin compression to an "aircraft impairment charge as well as declining package volumes."
Both Ground and Freight segments showed improving operating margins as well as net income.
Looking ahead, FedEx sees first-quarter 2013 EPS of $1.45 to $1.60 and fiscal 2013 EPS of $6.90 to $7.40. The Street is currently expecting EPS of $1.70 and $7.39, respectively. FedEx noted EPS numbers "[do] not include the impacts of the significant cost reduction programs currently under review that should be announced in the fall."
Shares are about 1.9 percent lower ahead of the open.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Applied Materials, Inc. (AMAT) Tops Q2 EPS by 3c, Offers Guidance
- Kohls Corp. (KSS) Tops Q1 EPS by 8c; Comps Down 1.9%; Guides Q2
- Stage Stores, Inc. (SSI) Posts Surprise Q1 Loss of 2c/Share
Create E-mail Alert Related Categories
Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
