FedEx (FDX) Tops Q1 EPS by $2.18

FedEx (NYSE: FDX) reported Q1 EPS of $4.87, $2.18 better than the analyst estimate of $2.69. Revenue for the quarter came in at $19.3 billion versus the consensus estimate of $17.55 billion.

Outlook

FedEx is not providing an earnings forecast for fiscal 2021. The capital spending forecast for the year is up $200 million to $5.1 billion, driven by additional capacity initiatives to support increased volume levels.

“While business demand improved in the first quarter, continued uncertainties cloud our ability to forecast full-year earnings,” said Alan B. Graf, Jr., FedEx Corp. executive vice president and chief financial officer. “However, we expect to continue to benefit from our strong position in the U.S. and international package and freight markets, yield improvement opportunities and cost management initiatives.”

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

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