FedEx (FDX) Misses Q3 EPS by 5c

FedEx (NYSE: FDX) reported Q3 EPS of $4.59, $0.05 worse than the analyst estimate of $4.64. Revenue for the quarter came in at $23.6 billion versus the consensus estimate of $23.44 billion.

GUIDANCE:

FedEx sees FY2022 EPS of $20.50-$21.50, versus the consensus of $20.61.

• Earnings per diluted share of $18.60 to $19.60 before the year-end MTM retirement plans accounting adjustment, compared to the prior forecast of $18.25 to $19.25 per diluted share;
• Earnings per diluted share of $20.50 to $21.50 before (i) the year-end MTM retirement plans accounting adjustment, and excluding (ii) estimated TNT Express integration expenses, (iii) estimated costs associated with business realignment activities, and (iv) the second quarter fiscal 2022 MTM retirement plans accounting adjustments, unchanged from the prior forecast;
• ETR of 22% to 23% prior to the year-end MTM retirement plans accounting adjustment, compared to the prior forecast of 24%; and
• Capital spending of $7.0 billion, compared to the prior forecast of $7.2 billion.

For earnings history and earnings-related data on FedEx (FDX) click here.

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