FedEx Shares Fall After Q3 Earnings Miss, Lower FY25 Revenue Forecast
FedEx Corp. (NYSE:FDX) released its third-quarter results after Thursday's closing bell. Here's a look at the key figures from the quarter.
The Details: FedEx reported quarterly earnings of $4.51 per share, which missed the analyst consensus estimate of $4.54. Quarterly revenue came in at $22.2 billion, which beat the analyst consensus estimate of $21.89 billion and is up from revenue of $21.7 billion from the same period last year.
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“The FedEx team delivered improved profitability, while navigating a very challenging operating environment, including a compressed Peak season and severe weather events,” said Raj Subramaniam, FedEx CEO.
“I am proud of the team for executing on our transformation efforts while strengthening our value proposition and improving the customer experience. Looking ahead, we remain focused on supporting our customers amid the shifting macroeconomic environment,” Subramaniam added.
Outlook: FedEx said it is unable to forecast the fiscal 2025 mark-to-market retirement plans accounting adjustments and therefore, is unable to provide a fiscal 2025 earnings per share or effective tax rate outlook.
The company also said it now sees fiscal 2025 revenue flat to slightly down year-over-year, compared to the prior forecast of approximately flat.
FDX Price Action: According to data from Benzinga Pro, FedEx shares are down 4.05% after-hours at $236.24 on Thursday.
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