FedEx (FDX) PT Lowered to $196 at Evercore ISI

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Go back to FedEx (FDX) PT Lowered to $196 at Evercore ISI

FedEx (FDX) gains on 'better-than-feared' quarter, Goldman flags conservative guidance

December 21, 2022 8:03 AM EST

Shares of FedEx (NYSE: FDX) are up nearly 5% in pre-open Wednesday after the company delivered better-than-feared earnings and guidance.

FedEx posted adjusted EPS of $3.18 on revenue of $22.8 billion, which compares to the average analyst consensus for earnings of $2.81 per share on revenue of $23.71B. FedEx blamed demand weakness, particularly at FedEx Express, for lower-than-expected top-line figures.

Overall, revenue decreased by almost 3% year-over-year (YoY) with FedEx Express revenue coming in at $10.86B, missing the consensus by nearly half a billion.

"The FedEx team moved with urgency to make rapid progress on our ongoing... More