FedEx Corp. (FDX) Tops Q4 EPS by 10c
- Wall Street closes mixed, S&P 500 ends off record high
- Private Sector Employment Increased by 330,000 Jobs in July, Missing Expectations
- General Motors (GM) Misses on Profit Estimates as Bolt EV Recall Weighs on Earnings, Challenging Chip Situation and 'Cautious' Profit Outlook Pulling Shares Lower Says Analyst
- Exclusive-U.S. developing plan to require foreign visitors to be vaccinated -official
- Softbank-Backed Zymergen (ZY) Crashes Over 70% as CEO Departs, Product Revenue Not Possible in 2021 and 'Immaterial' in 2022, At Least 6 Firms Downgrade
FedEx Corp. (NYSE: FDX) reported Q4 EPS of $2.46, $0.10 better than the analyst estimate of $2.36. Revenue for the quarter came in at $11.8 billion versus the consensus estimate of $11.66 billion.
“An outstanding fourth quarter helped FedEx post solid results for fiscal 2014, and we believe we are well positioned for a strong fiscal 2015,” said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer. “I would like to extend my sincere appreciation to the entire FedEx team for their contribution to our results and their continued commitment to providing outstanding service to our customers and connecting people and possibilities around the world.”
FedEx Corp. sees FY2015 EPS of $8.50 - $9.00, versus the consensus of $8.76. The outlook assumes no net year-over-year fuel impact and continued moderate economic growth. Capital spending for fiscal 2015 is expected to increase to approximately $4.2 billion, which includes planned aircraft deliveries to support the company’s fleet modernization program and continued expansion of the FedEx Ground network.
“Fiscal 2014 was a good year for FedEx and we expect fiscal 2015 to be even better,” said Alan B. Graf, Jr., FedEx Corp. executive vice president and chief financial officer. “With continued modest economic improvement, our results in fiscal 2015 should benefit from base performance improvement and ongoing execution of our profit improvement initiatives at FedEx Express, continued profitable growth at FedEx Ground and FedEx Freight, and our share repurchase program. We remain committed to improving earnings, cash flows, returns on invested capital and returns to shareowners, with the most recent example of the latter being our announced 33% increase in the quarterly dividend.”
For the fourth quarter, the FedEx Express segment reported:
• Revenue of $7.00 billion, up slightly from last year’s $6.98 billion
• Operating income of $475 million, up 3% from an adjusted $460 million a year ago. Including charges, last year’s operating income was $0.
• Operating margin of 6.8%, up from an adjusted 6.6% the previous year. Including charges, last year’s operating margin was 0.0%.
For the fourth quarter, the FedEx Ground segment reported:
• Revenue of $3.01 billion, up 8% from last year’s $2.78 billion
• Operating income of $586 million, up 5% from an adjusted $557 million a year ago. Including charges, last year’s operating income was $464 million.
• Operating margin of 19.5%, down from an adjusted 20.1% the previous year. Including charges, last year’s operating margin was 16.7%.
For the fourth quarter, the FedEx Freight segment reported:
• Revenue of $1.55 billion, up 12% from last year’s $1.39 billion
• Operating income of $122 million, up 51% from an adjusted $81 million a year ago. Including charges, last year’s operating income was $38 million.
• Operating margin of 7.9%, up from an adjusted 5.8% the previous year. Including charges, last year’s operating margin was 2.7%.
For earnings history and earnings-related data on FedEx Corp. (FDX) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Supernus Pharma (SUPN) Tops Q2 EPS by 23c
- Ping Identity (PING) Tops Q2 EPS by 7c; Guides Higher
- Healthcare Realty Trust (HR) Tops Q2 EPS by 10c
Create E-mail Alert Related CategoriesEarnings, Guidance, Hot Corp. News, Hot Earnings, Management Comments
Related EntitiesDividend, Stock Buyback, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!