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published in Blogs
Mar 18, 2022
FedEx (FDX, $228.53) misses fiscal Q3 earnings expectations

FedEx (FDX, $228.53) misses fiscal Q3 earnings expectations

FedEx reported its fiscal third-quarter earnings that fell short of analysts’ expectations, as inflation hurt  profit margins.

The transportation/logistics company’s  adjusted earnings came in at $4.59 a share, compared to  $4.65 expected by analysts. The figure was $3.47 in the year-ago quarter.

Revenue was $23.6 billion, vs. analysts’ expectations of  $23.5 billion. The year-ago quarter generated $21.5 billion in sales.

“The continued execution of our strategies drove improved third-quarter results,” said CEO Fred Smith.

The company’s   full-year guidance remained unchanged. For the full 2022 fiscal year, it projects earnings of  $21 a share (vs. $18.17 a share earned in fiscal year 2021).

Related Tickers: FDX