FedEx: Fiscal Q3 Earnings Snapshot
MEMPHIS, Tenn. (AP) — MEMPHIS, Tenn. (AP) — FedEx Corp. (FDX) on Thursday reported fiscal third-quarter profit of $879 million. FedEx reported a profit of $3.51 per share in Q3, adjusted for non-recurring costs, reaching $4.86 per share. This beat Wall Street expectations of a combined earnings total of $2.87 per share, beating the average of 10 analysts surveyed by Zacks Investment Research for earnings of just $349 per share and $21.7 billion, which fell short of Street forecasts of $22.02 billion. FedEx expects full-year earnings in the range of $17.25 to $18.25 per share for the coming year.
Published : 2 months ago by AP News in Finance
On a per-share basis, the Memphis, Tennessee-based company said it had profit of $3.51. Earnings, adjusted for non-recurring costs, came to $3.86 per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $3.49 per share.
The package delivery company posted revenue of $21.7 billion in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $22.02 billion.
FedEx expects full-year earnings in the range of $17.25 to $18.25 per share.
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
Topics: Markets