Home Investing FedEx up on Q4 earnings: ‘we expect further momentum in fiscal 2023’

FedEx up on Q4 earnings: ‘we expect further momentum in fiscal 2023’

by

FedEx up on Q4 earnings: ‘we expect further momentum in fiscal 2023’

Ad disclosure

Invezz is an independent platform with the goal of helping users achieve financial freedom. In order to fund our work, we partner with advertisers who compensate us for users that Invezz refers to their services. While our reviews and assessments of each product on the site are independent and unbiased, brands may pay to appear higher up our table rankings or place ads in specific areas of the site. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. Read more about how we make money >

By:

Wajeeh Khan

on
Jun 23, 2022

FedEx Corporation reports in-line earnings for its fiscal fourth quarter.

The transportation company gave better-than-expected future guidance.

Shares of FedEx Corp are up 3.0% in after-hours trading on Thursday.

FedEx Corporation (NYSE: FDX) reported in-line earnings for its fiscal fourth quarter on Thursday. Shares are up 3.0% in extended trading on better-than-expected guidance for fiscal 2023.

FedEx Q4 earnings snapshot

Net income printed at $558 million versus the year-ago figure of $1.87 billion$2.13 of EPS was significantly below $6.88 in Q4 of the previous yearOn an adjusted basis, per-share earnings stood at $6.87 in the recent quarterRevenue jumped 8.0% to $24.4 billion, as per the earnings press releaseExperts had forecast $6.87 of EPS on a higher $24.49 billion in revenue

Adjusted operating margin climbed from 8.7% to 9.2% on a year-over-year basis. In the earnings press release, CEO Raj Subramaniam said:


Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

Our fiscal 2022 performance is a testament to FedEx value proposition and execution of our long-term strategy. Our foundational investments have set the stage for a strong fiscal 2023. Our focus will be on revenue quality and lowering cost to serve.

Dividend and future outlook

Last week, the transportation company raised its quarterly cash dividend by more than 50% to $1.15 a share. The stock is down 10% for the year.

For the full financial year, FedEx expects its per-share earnings to fall in the range of $22.50 to $24.50. This compares to $22.21 a share that analysts had forecast. CFO Michael Lenz said:

We expect further momentum in fiscal 2023 and beyond as we execute on our initiatives to drive increased profitability and returns.

Invest in crypto, stocks, ETFs & more in minutes with our preferred broker,
Capital.com

9.3/10

75.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Visit site

Industries


North America


Services


Stocks & Shares


Transport & tourism


USA


World


You may also like