FedEx (FDX) Tops Q4 EPS by 37c

June 20, 2017 4:15 PM EDT
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Price: $303.69 +2.13%

Revenue Growth %: -99.9%

Financial Fact:
NET INCOME: 715M

Today's EPS Names:
PRGS, FDX, MEI, More
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FedEx (NYSE: FDX) reported Q4 EPS of $4.25, $0.37 better than the analyst estimate of $3.88. Revenue for the quarter came in at $15.7 billion versus the consensus estimate of $15.56 billion.

“Strong fourth quarter results completed a record fiscal 2017,” said Frederick W. Smith, FedEx Corp. chairman and chief executive officer. “We enter fiscal 2018 confident FedEx Corp. will continue to deliver outstanding value and opportunities for shareowners, customers, and team members for years to come.”

GUIDANCE:

FedEx sees FY2018 EPS of $12.45-$13.25.

  • FedEx is unable to forecast the fiscal 2018 year-end MTM pension accounting adjustments. As a result, the company is unable to provide fiscal 2018 earnings guidance on a GAAP basis.
  • Before year-end MTM pension accounting adjustments, earnings are projected to be $12.45 to $13.25 per diluted share for fiscal 2018. This forecast assumes moderate economic growth. The earnings forecast before year-end MTM pension accounting adjustments and excluding TNT Express integration expenses, including restructuring charges, is $13.20 to $14.00 per diluted share for fiscal 2018. These forecasts include an estimated $65 million of TNT Express intangible asset amortization expense.
  • Capital spending for fiscal 2018 is expected to be approximately $5.9 billion, which includes an increase in planned aircraft deliveries to support the FedEx Express fleet modernization program and continued investments in FedEx Ground automation and capacity expansion, including certain projects deferred from fiscal 2017.
  • “Investments to modernize our aircraft fleet and expand our FedEx Ground capacity are supporting our strong earnings growth,” said Alan B. Graf, Jr., FedEx Corp. executive vice president and chief financial officer. “We are very optimistic about fiscal 2018 as evidenced by our earnings outlook.”

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



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