Ship It! FedEx (FDX) Beats Q4 Views Led by Express Segment; Issues Strong Outlook
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FedEx Corp. (NYSE: FDX) is trading strong early Wednesday following solid fourth-quarter earnings and outlook from the global parcel delivery giant.
Revenue increased 12 percent from $9.43 billion to $10.55 billion, topping consensus views calling for revs of $10.42 billion.
Net income in the quarter bulged 33 percent from $419 million to $558 million, or $1.75 per share. The number was about 3 cents better than the Street consensus earnings of $1.72 per share.
FedEx Express contributed $6.63 billion of revs in the quarter, and $429 million of operating income.
For its Freight segment, less-than-truckload (LTL) yield increased 13 percent, primarily due to yield management actions and higher LTL fuel surcharges. LTL average daily shipments decreased 8 percent as a result of the yield management actions.
Looking ahead, FedEx sees fiscal 2012 EPS of $6.35 to $6.85, compared with the consensus of $6.54. For the current quarter, the Memphis, TN-based company is looking for EPS of $1.40 to $1.60, at the upper-end of consensus views calling for $1.45.
CEI Fred Smith said, "FedEx is well positioned to deliver strong earnings growth in fiscal 2012."
FedEx shares are trading better than 2 percent higher on the beat.
Revenue increased 12 percent from $9.43 billion to $10.55 billion, topping consensus views calling for revs of $10.42 billion.
Net income in the quarter bulged 33 percent from $419 million to $558 million, or $1.75 per share. The number was about 3 cents better than the Street consensus earnings of $1.72 per share.
FedEx Express contributed $6.63 billion of revs in the quarter, and $429 million of operating income.
For its Freight segment, less-than-truckload (LTL) yield increased 13 percent, primarily due to yield management actions and higher LTL fuel surcharges. LTL average daily shipments decreased 8 percent as a result of the yield management actions.
Looking ahead, FedEx sees fiscal 2012 EPS of $6.35 to $6.85, compared with the consensus of $6.54. For the current quarter, the Memphis, TN-based company is looking for EPS of $1.40 to $1.60, at the upper-end of consensus views calling for $1.45.
CEI Fred Smith said, "FedEx is well positioned to deliver strong earnings growth in fiscal 2012."
FedEx shares are trading better than 2 percent higher on the beat.
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