fedex earnings
Investors will have plenty of time to stew over Tuesday’s loss, on what will likely be a choppy day Wednesday, with earnings from another big financial firm and an air courier battling soaring fuel costs. [...] A day after second-quarter earnings from Goldman Sachs (nyse: GS - news - people) and a slate of economic data including reports on inflation and housing, market watchers get earnings from Morgan Stanley (nyse: MS - news - people) and FedEx (nyse: FDX - news - people), but little in the way of economic data. [1]
The new agreement is expected to generate more than $8 billion in revenue over the life of the seven-year contract, which begins September 25, 2006. [...] Excluding this charge, earnings in last year’s first quarter would have been $1.25 per diluted share. [2]
FedEx was cautious on guidance for the current quarter, with the high end of its profit forecast just in line with market expectations, but said it expects the economy to bounce back in the late summer or early fall of this year. [3]
IP package revenue grew 18% for the quarter, as IP revenue per package grew 10%, primarily due to higher fuel surcharges and favorable exchange rates. [4]
FedEx reported that its quarterly profit fell from a year earlier. [5]
MEMPHIS, Tenn., March 20, 2008… FedEx Corp. (NYSE: FDX) today reported earnings of $1.26 per diluted share for the third quarter ended February 29, compared to $1.35 per diluted share a year ago. [...] Third quarter operating margins declined, as higher fuel prices and a weak U.S. economy limited demand for U.S. domestic express, less-than-truckload (LTL) and copy and print services. [...] The costs of retail service enhancement initiatives, increased marketing and technology expenses and higher expenses at FedEx Ground more than offset the benefits from lower variable compensation and favorable exchange rates. [4]
On Monday, when Lehman Brothers (nyse: LEH - news - people) reported an already announced $2.8 billion loss, financial stocks rallied and the broader market was mostly flat. [1]
Total combined average daily package volume at FedEx Express and FedEx Ground grew 5% year over year for the quarter, due to continued growth in ground and international express shipments. [2]
Delivery company FedEx reported quarterly earnings and revenue that rose from a year ago and topped analysts’ consensus expectations Wednesday, including a one-time gain. [3]
The operating margin decline was primarily due to the revenue decline, along with services enhancement costs and network expansion initiatives. [2]
For its fiscal fourth quarter, the company predicted earnings of $1.93 to $2.08 a share, in line with expectations for a profit of $2.03 a share. [5]
Sources:
[1] Morgan Stanley, FedEx Earnings Due Up - Forbes.com
[2] FedEx | Investor Relations | Earning Releases
[3] FedEx Earnings - News - CNBC.com
[4] FedEx Corp. Reports Third Quarter Earnings | About FedEx
[5] FedEx Earnings - News - CNBC.com