FedEx Corp. (FDX) Posts Q3 EPS of $1.23; Cuts FY14 EPS Outlook

March 19, 2014 7:32 AM EDT
FedEx Corp. (NYSE: FDX) reported Q3 EPS of $1.23, $0.28 worse than the analyst estimate of $1.51. Revenue for the quarter came in at $11.3 billion versus the consensus estimate of $11.46 billion.

Unusually severe winter storms throughout the quarter disrupted operations, decreasing shipping volume and increasing costs, and impacted year-over-year operating income by an estimated $125 million. Last year’s third quarter results were impacted by business realignment costs totaling $47 million, primarily related to the company’s voluntary buyout program for eligible U.S. officers and managing directors.

FedEx Ground revenue was $3.03 billion, up 10 percent from last year’s $2.75 billion.

FedEx Freight revenue was $1.35 billion, up 9 percent.

FedEx Ground revs rose 10 percent to $2.75 billion.

FedEx sees Q4 2014 EPS of $2.25-$2.50, versus the consensus of $2.33.

The company also sees FY2014 EPS of $6.55-$6.80, versus the consensus of $6.9.

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

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