(Updated - September 19, 2017 4:20 PM EDT)

FedEx (NYSE: FDX) reported Q1 EPS of $2.51, $0.58 worse than the analyst estimate of $3.09. Revenue for the quarter came in at $15.3 billion versus the consensus estimate of $15.35 billion.

Outlook

FedEx is unable to forecast the fiscal 2018 year-end mark-to-market (MTM) pension accounting adjustments. As a result, the company is unable to provide fiscal 2018 earnings guidance on a GAAP basis.

The company is lowering its fiscal 2018 forecast due to the estimated full-year impacts of the TNT Express cyberattack. Before year-end MTM pension accounting adjustments, earnings are now projected to be $11.05 to $11.85 per diluted share for fiscal 2018. The earnings forecast before year-end MTM pension accounting adjustments and excluding expenses related to TNT Express integration and certain first quarter FedEx Trade Networks legal matters is now $12.00 to $12.80 per diluted share for fiscal 2018. These forecasts assume moderate economic growth and continued recovery from the cyberattack.

(Street sees FY EPS of $13.38)

The capital spending forecast for fiscal 2018 remains $5.9 billion.

“The impact of the cyberattack on TNT Express and lower-than-expected results at FedEx Ground reduced our first quarter earnings,” said Alan B. Graf, Jr., FedEx Corp. executive vice president and chief financial officer.

“We are currently executing plans to mitigate the full-year impact of these issues.”

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