FedEx gets more selective about shipments, profit rises
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FedEx (FDX) Gains on Solid FY23 Outlook, Analysts Mostly Bulled Up Into Next Week's Investors Day
June 24, 2022 6:47 AM EDTFedEx (NYSE: FDX) gained 3% in pre-open trading Friday following solid fourth quarter earnings results and higher fiscal 2023 guidance. The results have prompted several Wall Street analysts to raise their price targets today.
The shipping giant reported Q4 EPS of $6.87, versus the consensus estimate of $6.88. Revenue was $24.4 billion, compared to the consensus estimate of $24.47 billion and $22.6 billion last year. FedEx expects full 2023-year EPS to be in the range of $22.50-$24.50, above the consensus estimate of... More
