FedEx (FDX) Misses Q1 EPS by 36c, Lifts FY EPS Guidance
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(Updated - September 17, 2018 4:18 PM EDT)
FedEx (NYSE: FDX) reported Q1 EPS of $3.46, $0.36 worse than the analyst estimate of $3.82. Revenue for the quarter came in at $17.1 billion versus the consensus estimate of $16.88 billion.
FedEx has increased its fiscal 2019 earnings per share outlook and reaffirms its other financial targets for the year:
- Revenue growth of approximately 9%;
- Operating margin of approximately 7.9%;
- Operating margin of approximately 8.5% excluding TNT Express integration expenses;
- Earnings of $15.85 to $16.45 per diluted share before year-end MTM retirement plan accounting adjustments, up from the prior forecast of $15.65 to $16.25 per diluted share;
- Earnings of $17.20 to $17.80 per diluted share before year-end MTM retirement plan accounting adjustments and excluding TNT Express integration expenses, up from the prior forecast of $17.00 to $17.60 per diluted share;
- ETR of approximately 25% prior to year-end MTM retirement plan accounting adjustments; and
- Capital spending of $5.6 billion.
(Street sees FY EPS of $17.33 on revenue of $70.90 billion)
For earnings history and earnings-related data on FedEx (FDX) click here.
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