FedEx: Fiscal Q4 Earnings Snapshot

·1 min read

MEMPHIS, Tenn. (AP) _ FedEx Corp. (FDX) on Thursday reported fiscal fourth-quarter net income of $1.87 billion, after reporting a loss in the same period a year earlier.

On a per-share basis, the Memphis, Tennessee-based company said it had net income of $6.88. Earnings, adjusted for non-recurring gains, were $5.01 per share.

The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $5.04 per share.

The package delivery company posted revenue of $22.57 billion in the period, exceeding Street forecasts. Six analysts surveyed by Zacks expected $21.74 billion.

For the year, the company reported profit of $5.23 billion, or $19.45 per share. Revenue was reported as $83.96 billion.

FedEx expects full-year earnings in the range of $20.50 to $21.50 per share.

FedEx shares have risen 17% since the beginning of the year, while the S&P's 500 index has increased 14%. In the final minutes of trading on Thursday, shares hit $303.69, more than doubling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FDX at https://www.zacks.com/ap/FDX

The Associated Press

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